Facebook stock drops 22% as users drop and TikTok eats into ad revenue. The wipeout follows Wednesday's first daily user drop. For the first time, Meta reported a quarterly decline in DAUs.
#Metaverse #Facebook 👇
#Metaverse #Facebook 👇
Meta reported a Q4 profit of $10.3 billion, or $3.67 per share, on Wednesday. Moving ahead, revenue is expected to be between $27-29 billion in the first quarter, down from $33.67 billion Q4.
#Metaverse
#Metaverse
TikTok & other competitors, are mainly responsible for cutback in Meta's ad revenue.
Excessive costs are another reason that have caused this rare loss in the "metaverse." & the Fed may be raising interest rates soon to add to Meta's concerns.
#Metaverse
Excessive costs are another reason that have caused this rare loss in the "metaverse." & the Fed may be raising interest rates soon to add to Meta's concerns.
#Metaverse
In the last few years, big tech companies like Apple and Microsoft have seen their value soar, which makes them more vulnerable to investor "whiplash". Apple lost nearly $180bn on September 3, 2020, and Microsoft lost $177bn on March 16, the same year.
#Metaverse
#Metaverse
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