The social media giant posted weak results in the second quarter of 2022, with earnings and revenues missing the street expectations. The advertising revenues suffered due to the factors such as record-high inflation numbers, aggressive interest rate hikes by the Fed, the Russia-Ukraine crisis, and the normalization of e-commerce sales after the re-opening of offline stores. The company’s revenues improved 37% y-o-y to $118 billion in 2021, with strong growth in the DAUs and annual worldwide ARPU.