facebookparent meta reported wednesday that its profit more than halved to 44 billion in the third quarter from 92 billion a year earlier and said it plans significant changes to bolster efficiency in a tough economic environment the social networking giant which faces stagnating user numbers and cuts in advertising budgets also said revenue slipped to 277 billion from 29 billion a year earlier were approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company meta chief mark zuckerberg said in an earnings release