Facebook parent Meta reported profits fell 23% during its first quarter compared to last year on Wednesday, as Mark Zuckerberg’s social media empire tries to find its footing amid a weaker economy.

During its first quarter, the social media giant took in a profit of $5.7 billion, a 23% drop compared to $7.4 billion a year ago. Revenue for the first quarter totaled $28.6 billion, up slightly compared to $27.9 billion last year and beating expectations across Wall Street of $27.7 billion for the quarter.