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Meta, the parent company of Mark Zuckerberg’s social media platform Facebook, faltered this week after second quarter earnings were revealed on Wednesday. The company reported a net income decrease of 36 percent year-over-year, according to a report from Yahoo Finance US.
The report revealed that revenue, earnings, and even monthly users on Facebook were slightly short of Meta’s projected expectations, signaling a very first “year-over-year revenue decline” in the company’s history.
According to Yahoo Finance, Mark Zuckerberg reportedly blamed the war in Ukraine for his company’s shortcomings this quarter due to internet blocks and outages.
Facebook’s decline comes on the heels of Truth Social’s rapid expansion, which is providing users an alternative to “Big Tech” and its rampant censorship policies.
Truth Social was kick-started by President Donald Trump and has become a strong competitor for social networking websites like Facebook, Twitter, and Instagram. This week, Truth Social expanded its reach to the United Kingdom.
Trump Media & Technology Group CEO Devin Nunes remarked on the news, “You’re going to have a lot better engagement on Truth Social than you will anywhere else, and you don’t have that risk of being censored for your political views.”
Truth Social has also been staging efficient and methodical rollouts on new and updated features for desktop and mobile app users.
Nunes further promised eager users during a recent episode of “The Devin Nunes Podcast” that the Truth Social app would be available in the Google Play Store as soon as they get approved. “We’re hopeful that they’re going to approve us,” he shared.
As Facebook and other “Big Tech” platforms begin to feel the heat from users fleeing their websites in search of free speech alternatives, Truth Social is poised to continue its skyrocketing growth.