Meta reports drop in annual sales, Mark Zuckerberg promises efficiency

Meta CEO Mark Zuckerberg said the company is going to be more proactive in cutting costs and being efficient, while also announcing a $40 billion share buyback as the social media company reported its first annual sales drop since the company went public in 2012.

The social media giant said sales dropped one percent to $116.6 billion in 2022, while it also announced that the number of daily users on Facebook hit two billion for the first time.