大象传媒

Meta, the parent company of Facebook, reported a second consecutive quarter of declining sales on Wednesday, as the company contends with a widespread drop in online ad spending and rising competition from TikTok.

Revenue declined 4% year on year, the earnings report showed. That slump exceeded the 1% year on year decline during the previous quarter.

Shares of Meta were down more than 10% in after hours trading immediately after the announcement. We crunch the results with Nicola Kemp from tech platform Bite.

Also on the programme, more from our interview with World Bank President David Malpass. Dr Rishikesh Ram Bhandary from the Global Economic Governance Initiative reflects on his remarks on China's debt strategy.

As Nigeria prepares to withdraw its lower value banknotes, 大象传媒 Africa's Nkechi Ogbonna explains why the naira is changing.

(Picture: Meta is the parent of both Facebook and Instagram. Credit: Getty Images.)