The company also reduced its UK tax bill to just over 12% of its pre-tax profits, half the standard 25% corporation tax rate.
Mark Zuckerberg cut 11,000 jobs globally after admitting Meta had overinvested at the start of the pandemic in the belief the increase in online activity would continue and accelerate even after Covid eased.
"I got this wrong, and I take responsibility for that," Zuckerberg, the founder and chief executive of the owner of Facebook, WhatsApp and Instagram, said in a memo to staff in November 2022.
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