Meta, parent company of Facebook, reports first revenue decline in history

Meta, the parent company of Facebook and Instagram, posted its first revenue decline in history Thursday, dragged down by a drop in ad spending as the economy falters —— and as competition from rival TikTok intensifies.

The results largely followed a broader decline in the digital advertising market that is dinging Meta rivals such as Google, Twitter _ which also posted a revenue decline — and Snap. Google’s parent company Alphabet reported its slowest quarterly growth in two…