Meta posts lower Q4 profit, announces huge stock buyback
1 year, 10 months ago

Meta posts lower Q4 profit, announces huge stock buyback

Associated Press  

SAN FRANCISCO — Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. But the company’s stock soared in extended trading, as its revenue beat Wall Street’s muted expectations and the Menlo Park, California-based company announced a $40 billion stock buyback. Meta’s mega stock buyback appeared to ease investors’ concerns over the company’s spending on the “metaverse” — an immersive digital universe, viewed through a headset, that Zuckerberg predicts will eventually replace smartphones as the primary way people use technology. “And with losses at its VR division mounting, Mark Zuckerberg is going to have to accept an unfortunate reality: Virtual worlds are simply not what businesses or consumers want right now.” Meta’s Reality Labs segment, which includes its virtual and augmented-reality hardware such as its headsets, as well as software and related content, posted a fourth-quarter operating loss of $4.28 billion, compared with a loss of $3.3 billion a year earlier. Meta’s monthly active users on what it calls its “family” of apps — Instagram, Facebook, WhatsApp and Messenger — were 3.74 billion as of Dec. 31.

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History of this topic

Meta Reports Strong Q3 Results with Record Revenue and Net Income
1 month, 3 weeks ago

Meta Reports Strong Q3 Results with Record Revenue and Net Income

China Daily  

Meta Platforms reports strong financial results for the third quarter, with revenue and net income increasing year-on-year. The company's family daily active people (DAP) also increased, indicating strong user growth. Meta expects fourth quarter 2024 revenue to be in the range of $45 billion to $48 billion, with full-year 2024 expenses in the range of $96 billion to $98 billion. …

Meta’s third-quarter profit surges 35%, reflecting strong ad revenue and its AI push
1 month, 3 weeks ago

Meta’s third-quarter profit surges 35%, reflecting strong ad revenue and its AI push

LA Times  

Mark Zuckerberg wears a pair of Orion AR glasses during the Meta Connect conference on Sept. 25, 2024, in Menlo Park, Calif. Meta Platforms Inc. posted stronger-than-expected third-quarter results on Wednesday, fueled by its advertising revenue growth and its push to incorporate artificial intelligence. Meta said it’s “family daily active people” — the number of users who signed into at …

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter
4 months, 3 weeks ago

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter

The Hindu  

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signalling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments. "Any apprehensions investors may have had about Meta's spending on AI and the metaverse are likely to be allayed by this quarter's …

Meta shares surge after tech giant reports $13.5bn profit
4 months, 3 weeks ago

Meta shares surge after tech giant reports $13.5bn profit

Al Jazeera  

CEO Mark Zuckerberg says Meta AI is on track to be the most used AI assistant worldwide by the year’s end. “We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year,” Meta founder and CEO Mark Zuckerberg said. “We’ve released the first frontier-level …

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours
4 months, 3 weeks ago

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours

Associated Press  

SAN FRANCISCO — Investments in artificial intelligence will account for a significant increase in Facebook parent company Meta’s expenses in the coming year, but stronger-than-expected revenue from its advertising business was enough to reassure investors that its business is on the right track. “And unlike Google, which is grappling with making changes that will impact its core ad business, most …

Meta Q2 ad sales expected to rise; focus on AI roadmap, costs
4 months, 3 weeks ago

Meta Q2 ad sales expected to rise; focus on AI roadmap, costs

The Hindu  

Meta Platforms is expected to report a 20% rise in quarterly revenue, helped by strong ad sales driven by the Olympics and elections in several countries, but investors will want to see if its spending on AI is starting to yield returns. The company released its mostly free Llama 3.1 artificial intelligence model last week, and said developers can use …

Meta reports revenue jump as Zuckerberg sees stock volatility over AI plans
7 months, 4 weeks ago

Meta reports revenue jump as Zuckerberg sees stock volatility over AI plans

The Hindu  

Meta on Wednesday reported quarterly revenue of $36.46 billion, up by 27%, when compared to last year, as CEO Mark Zuckerberg hailed the company’s AI product releases and stressed on his aim to share them with more customers and begin monetising the offerings. Zuckerberg pointed out that the new Meta AI chatbot, powered by the company’s open source and most …

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day
7 months, 4 weeks ago

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day

Daily Mail  

Meta shares crashed in after-hours trading Wednesday after the company warned profits will slip over the summer. Meta says it will see second quarter revenue between $36.5 and $39 billion. Shares were also hit after Meta said it expects overall expenses this year to be higher than it previously forecast - as the Facebook parent spends heavily to roll out …

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours
7 months, 4 weeks ago

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours

Associated Press  

Facebook and Instagram parent company Meta said Wednesday its first-quarter profit more than doubled, boosted by higher advertising revenue and a 6% increase on the average price of ads on its platforms. The company has been investing heavily in AI and earlier this month unveiled a new set of artificial intelligence systems that are powering what CEO Mark Zuckerberg calls …

Mark Zuckerberg becomes $27 billion richer as Meta stock rallies; net worth surpasses Bill Gates
10 months, 3 weeks ago

Mark Zuckerberg becomes $27 billion richer as Meta stock rallies; net worth surpasses Bill Gates

Hindustan Times  

Facebook co-founder and Meta CEO Mark Zuckerberg made a comeback in the top four of the billionaire's list as he became over $27 billion richer on Friday with Meta's quarterly profits exceeding the expectations of Wall Street. Meta's CEO Mark Zuckerberg After releasing the company's quarterly results, Meta shares were up by 20 percent. With a significant surge in his …

Meta adds $196 billion to stock market value as shares see biggest one-day high
10 months, 3 weeks ago

Meta adds $196 billion to stock market value as shares see biggest one-day high

Hindustan Times  

Meta Platforms added $196 billion in stock market value on Friday, marking the biggest one-day gain by any company in Wall Street history after the Facebook parent declared its first dividend and posted robust results. Meta shares see their biggest single-day high Meta's stock surged 20.3% for the session, also recording its biggest one-day percentage increase in a year and …

Meta adds $214 billion amid job cuts and dividend pay off
10 months, 3 weeks ago

Meta adds $214 billion amid job cuts and dividend pay off

Hindustan Times  

Meta added over $214 billion in stock market value on Friday, with shares on track for their third biggest percentage jump since its 2012 Wall Street debut after the Facebook parent's first dividend declaration and robust results. A Meta logo is seen Days ahead of Facebook's 20th anniversary, Meta authorized an additional $50 billion in share repurchases and said its …

Amazon and Meta—Nothing Artificial About These Results
10 months, 3 weeks ago

Amazon and Meta—Nothing Artificial About These Results

Live Mint  

The e-commerce titan and social networking giant both posted strong fourth-quarter results late Thursday. The two beat Wall Street’s consensus targets for both revenue and operating income by wider margins than Microsoft and Google-parent Alphabet did with their respective December quarter reports earlier in the week. The company did manage to beat Wall Street’s projections for its all-important iPhone revenue, …

Meta, Amazon beat expectations with stellar results
10 months, 3 weeks ago

Meta, Amazon beat expectations with stellar results

Live Mint  

Meta and Amazon on Thursday blew through expectations in their latest quarterly results as Big Tech continued to impress Wall Street. Meta, the tech titan behind Facebook and Instagram, reported a profit of $14 billion in the final three months of last year, beating analyst forecasts as revenue climbed to $40.1 billion in the quarter. Facebook changed its parent company …

Facebook parent Meta declares first dividend, shares jump 12%
10 months, 3 weeks ago

Facebook parent Meta declares first dividend, shares jump 12%

Hindustan Times  

Meta Platforms issued its first ever dividend days ahead of flagship social network Facebook's 20th anniversary, while reporting revenue that beat expectations as a result of robust ad and device sales in the holiday shopping period. Meta forecast first quarter revenue of $34.5 billion to $37 billion, above Wall Street expectations of $33.8 billion. Improvements to the social media business …

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound
10 months, 3 weeks ago

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound

Associated Press  

Meta Platforms Inc. tripled its profit and posted sharply higher revenue in the final quarter of 2023, boosted by a rebound in digital advertising as well cost cutting and layoffs in what CEO Mark Zuckerberg called the “year of efficiency.” “The company can talk all it wants to about AI and the metaverse, but it’s still a social media company …

Zuckerberg announces $50bn payout for Meta shareholders amid child safety concerns
10 months, 3 weeks ago

Zuckerberg announces $50bn payout for Meta shareholders amid child safety concerns

The Telegraph  

Mark Zuckerberg’s Meta will pay up to $50bn to shareholders after it posted record revenues, sending profits soaring by 200pc. Quarterly profits climbed threefold to $14bn as Meta’s advertising sales staged a marked recovery after it implemented sweeping layoffs last year in a drastic effort to cut costs. Mr Zuckerberg also announced the social network giant, which turns 20 this …

Meta reports “good” quarter after revenue growth, launch of Threads and AI products
1 year, 1 month ago

Meta reports “good” quarter after revenue growth, launch of Threads and AI products

The Hindu  

Meta CEO Mark Zuckerberg noted a “good quarter” for the company’s community and business as the social media giant reported revenue growth of 23% year-over-year to reach $34.15 billion. Zuckerberg earlier announced that 2023 would be Meta’s year of “efficiency” and the company proceeded to lay off hundreds of workers across its tech and business divisions. “I’m proud of the …

Meta Q3 Results: Facebook parent beats revenue, profit estimates
1 year, 1 month ago

Meta Q3 Results: Facebook parent beats revenue, profit estimates

Live Mint  

Meta Platforms, the owner of social media platforms Facebook and Instagram, beat expectations for third-quarter profit and revenue on Wednesday led by a recovery in digital advertising spending. Meta, which also owns WhatsApp, reported a 23% rise in revenue to $34.15 billion for the quarter ended September, growing at the quickest pace in two years. The company forecast 2024 spending …

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue
1 year, 1 month ago

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue

Associated Press  

Facebook parent Meta on Wednesday posted sharply higher earnings for the third quarter, boosted by an increase in advertising revenue and lower expenses after it laid off thousands of workers. “With its sustained upward trajectory, robust user engagement, and strategic cost optimizations, Meta is not only navigating choppy waters but also setting the course for uncharted territories of growth.” Meta, …

Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Meta posts higher profit, revenue for Q2 as advertising rebounds

The Hindu  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds

Associated Press  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Microsoft, Meta beat Street estimates; what should you do?
1 year, 7 months ago

Microsoft, Meta beat Street estimates; what should you do?

Live Mint  

The March quarter numbers of Microsoft Corporation and Meta Platforms Inc. must have given a big relief to investors in these gloomy economic times. Meta reported revenue of $28.6 billion, up 3 per cent against the previous year while Microsoft's revenue for the January-March quarter rose 7 per cent year-on-year. "The unexpectedly good results of Microsoft and Meta might give …

Facebook owner Meta touts AI might as digital ads boost outlook, shares
1 year, 7 months ago

Facebook owner Meta touts AI might as digital ads boost outlook, shares

The Hindu  

Meta Platforms Inc. CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations. "I think similar to Alphabet, a lot of Meta's AI investments have gone into the advertiser side," said James Cordwell, analyst at Atlantic Equities. …

Facebook parent Meta posts solid 1Q results, stock soars
1 year, 7 months ago

Facebook parent Meta posts solid 1Q results, stock soars

Associated Press  

Facebook parent company Meta’s first-quarter results surpassed Wall Street’s modest expectations on both profit and revenue, sending its stock soaring in after-hours trading. “We’re also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision.” Meta Platforms Inc. said Wednesday it earned $5.71 billion, or $2.20 per …

Meta plans fresh round of job cuts months after laying off over 11,000 workers
1 year, 10 months ago

Meta plans fresh round of job cuts months after laying off over 11,000 workers

Live Mint  

After firing more than 11,000 employees towards the end of last year, Facebook Parent company Meta is now planning a fresh round of job cuts. According to a Washington Port report citing people familiar with the matter, the company is also planning to push some leaders into lower-level roles without direct reports - essentially flattening the layers of management between …

Meta plans fresh layoffs, delays setting team budgets: Report
1 year, 10 months ago

Meta plans fresh layoffs, delays setting team budgets: Report

Hindustan Times  

Facebook parent Meta Platforms Inc has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported on Saturday. Earlier this month, Meta announced that it expects its 2023 expenses at between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a "Year of Efficiency." In recent weeks …

Big Tech earnings show digital ads market is still shaky
1 year, 10 months ago

Big Tech earnings show digital ads market is still shaky

The Hindu  

After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet, Meta Platforms and Snap showed they were not yet in the clear. Google-owner Alphabet Inc. on Thursday reported a slight fall in quarterly ad revenue, missing Wall Street expectations and surprising investors as the world's largest digital ad platform …

Meta posts upbeat outlook, plans $40 billion buyback
1 year, 10 months ago

Meta posts upbeat outlook, plans $40 billion buyback

Live Mint  

BY SALVADOR RODRIGUEZ | UPDATED 2月 01, 2023 06:12 晚上 EST Social-media giant plans to buy back additional $40 billion in shares, says its costs are set to decline and its global users increased Facebook parent Meta Platforms Inc. reported improving conditions in its underlying business and said it would buy back an added $40 billion in shares, a turnabout …

After Meta Layoffs, Its Shares See Nearly 21% Jump; Average Ticket Size Increases 35%
2 years, 1 month ago

After Meta Layoffs, Its Shares See Nearly 21% Jump; Average Ticket Size Increases 35%

News 18  

Meta Shares Recover 21% After Layoffs: As the macroeconomic downturn, increased competition and ads signal loss have hit Meta’s revenue, its shares remained under pressure since the start of this year and have witnessed a continuous fall. However, after the reports of Meta layoffs start doing the round, the company’s shares begin recovering and the average ticket size that investors …

Meta cuts more than 11,000 jobs; biggest cull in its history
2 years, 1 month ago

Meta cuts more than 11,000 jobs; biggest cull in its history

Al Jazeera  

Facebook’s parent company, whose shares have lost more than two-thirds of their value, said it also plans to cut discretionary spending and extend its hiring freeze through the first quarter. The broad job cuts, the first in Meta’s 18-year history, follow thousands of layoffs at other leading tech companies including Elon Musk-owned Twitter and Microsoft Corp. “Today I’m sharing some …

Meta Facebook layoff firing mass lay off twitter elon musk q3 earnings mark zuckerberg
2 years, 1 month ago

Meta Facebook layoff firing mass lay off twitter elon musk q3 earnings mark zuckerberg

ABP News  

San Francisco: After mass layoffs at Twitter, it is another Big Tech company's turn as the Mark Zuckerberg-led Meta is reportedly set to lay off 'thousands' of employees this week. The company declined to comment, referring to Zuckerberg's recent statement that the company would "focus our investments on a small number of high priority growth areas." In June, Meta's chief …

Meta’s Calamitous Week Won’t Stop Mark Zuckerberg’s Plans
2 years, 1 month ago

Meta’s Calamitous Week Won’t Stop Mark Zuckerberg’s Plans

Slate  

This article is from Big Technology, a newsletter by Alex Kantrowitz. “It’s some of the most historic work that we’re doing.” Apple’s anti-tracking iOS changes are hampering Meta, having been projected to deliver a $10 billion revenue hit this year, but they haven’t destroyed the business. “Deceleration was inevitable, and that’s mostly what we are seeing.” The biggest threat to …

Meta investors call Zuckerberg's metaverse project 'terrifying': Report
2 years, 1 month ago

Meta investors call Zuckerberg's metaverse project 'terrifying': Report

Hindustan Times  

Wall Street is losing patience over Meta boss Mark Zuckerberg's enormous and experimental bets on his metaverse project that helped drive up the company's overall costs by a fifth in the third quarter. Investors rushed to dump Meta Platforms Inc's stock after hours, pushing it down 20% and wiping $67 billion off its market value after the company posted its …

Investors punish Zuckerberg as costly metaverse pitch falls flat
2 years, 1 month ago

Investors punish Zuckerberg as costly metaverse pitch falls flat

The Hindu  

Wall Street is losing patience over Meta boss Mark Zuckerberg's enormous and experimental bets on his metaverse project that helped drive up the company's overall costs by a fifth in the third quarter. The Facebook-parent said its overall expenses could rise as much as 16% next year and anticipates that operating losses at Reality Labs - the unit responsible for …

Facebook parent Meta’s revenue, profit decline amid ad slump
2 years, 1 month ago

Facebook parent Meta’s revenue, profit decline amid ad slump

Associated Press  

Facebook parent Meta on Wednesday reported that its revenue declined for a second consecutive quarter, hurt by falling advertising sales as it faces competition from TikTok’s wildly popular video app. “We’re approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company.” Meta said it expects staffing levels …

As Meta’s revenue decline accelerates, shares sink 14 percent
2 years, 1 month ago

As Meta’s revenue decline accelerates, shares sink 14 percent

Al Jazeera  

A weak holiday quarter forecast knocked about $40bn from Meta’s stock market value in extended trade. Facebook parent Meta Platforms Inc has forecast a weak holiday quarter and significantly more losses from Metaverse investments next year, sending shares down 14 percent. The Facebook parent company beat estimates for quarterly revenue, which fell 4 percent to $27.7bn in the third quarter …

Meta reports another drop in revenue, in a rough week for tech companies
2 years, 1 month ago

Meta reports another drop in revenue, in a rough week for tech companies

NPR  

Meta reports another drop in revenue, in a rough week for tech companies Enlarge this image toggle caption Nic Coury/Bloomberg via Getty Images Nic Coury/Bloomberg via Getty Images It's gotten tougher for Big Tech. Facebook and Instagram's parent company Meta said revenue fell 4% in the three months from July through September compared to a year earlier, from $29 billion …

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings
2 years, 4 months ago

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings

ABP News  

Meta Platforms clocked its first ever quarterly decline in revenue on Wednesday, Reuters reported. Citing Refinitiv, Reuters mentioned total revenue, which consists almost entirely of ad sales, fell 1 per cent to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. Monthly active users on Facebook came in slightly under analyst expectations at 293 crore …

Meta posts first-ever revenue drop as inflation throttles ad sales
2 years, 4 months ago

Meta posts first-ever revenue drop as inflation throttles ad sales

The Hindu  

Meta Platforms Inc issued a gloomy forecast after recording its first-ever quarterly drop in revenue on Wednesday, with a global recession looming and competitive pressures weighing on its digital ads sales. Total revenue, which consists almost entirely of ad sales, fell 1% to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. Still, the Meta …

Meta sees first ever quarterly drop, misses estimates
2 years, 4 months ago

Meta sees first ever quarterly drop, misses estimates

Al Jazeera  

Recession fears and competitive pressures are weighing on the digital ads sales of the social media giant. Meta Platforms Inc has issued a gloomy forecast after recording its first-ever quarterly drop in revenue, with recession fears and competitive pressures weighing on its digital Shares of the Menlo Park, California-based company were down about 4.6 percent in extended trading. “The situation …

Facebook parent Meta posts first revenue decline in history
2 years, 4 months ago

Facebook parent Meta posts first revenue decline in history

Associated Press  

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. CEO Mark Zuckerberg said Meta is slowing its pace of investments and plans to “steadily reduce” employee growth after a hiring blitz earlier this …

As Zuckerberg bets on TikTok-style videos, Meta heads for first-ever revenue drop
2 years, 4 months ago

As Zuckerberg bets on TikTok-style videos, Meta heads for first-ever revenue drop

The Hindu  

Meta's future may lie in the metaverse, but when the company reports results on Wednesday, investors will be focused on two more immediate bets: pumping up short-video offering Reels to compete with TikTok and rebuilding its ads system after Apple throttled access to user data. Meta is also investing heavily to rebuild its ads system around its own user data, …

Facebook’s parent company Meta tells hardware staffers to prepare for cutbacks
2 years, 7 months ago

Facebook’s parent company Meta tells hardware staffers to prepare for cutbacks

The Hindu  

Facebook-owner Meta Platforms Inc is preparing cutbacks in its Reality Labs division, a unit at the centre of the company's strategy to refocus on hardware products and the "metaverse," a spokesperson confirmed to Reuters on Wednesday. The world's biggest social media company last month told investors that it would scale back costs in 2022, following a drop in Facebook users …

Meta shares surge after Facebook ekes out user growth
2 years, 7 months ago

Meta shares surge after Facebook ekes out user growth

The Hindu  

Meta Platforms Inc surprised Wall Street with a profit beat and Facebook returning to user growth, although Meta forecast a conservative revenue outlook for the current quarter. Meta's profit soundly beat Wall Street targets at $2.72 per share, compared with an analyst consensus of $2.56, according to IBES data from Refinitiv. Facebook daily active users, a key metric for advertisers …

Shares of Facebook parent Meta soar despite growth slowdown
2 years, 7 months ago

Shares of Facebook parent Meta soar despite growth slowdown

Associated Press  

Facebook parent Meta’s first quarter profit and its count of daily users jumped past Wall Street’s expectations despite the company’s slowest revenue growth since going public a decade ago. Google also reported a revenue growth slowdown, but for Meta this appeared to have been mitigated by an increase in daily active users that “was enough to send the shorts covering …

How Did Wall Street Get Meta’s Earnings So Wrong?
2 years, 10 months ago

How Did Wall Street Get Meta’s Earnings So Wrong?

Bloomberg  

If you have a teenager in your house, you’ve known for a while that the Facebook app isn’t as cool as it used to be. Even so, Wall Street has held its parent company, renamed Meta Platforms Inc. last year, in the highest esteem. For years, analysts’ price targets kept climbing, at times implying double-digit returns. On that day, the …

Explained: The tumbling of Meta platforms’ shares
2 years, 10 months ago

Explained: The tumbling of Meta platforms’ shares

The Hindu  

The story so far: The shares of Meta Platforms, the parent company of social media giant Facebook, crashed by as much as 25% on Thursday, wiping out over $200 billion from the company’s market value. THE GIST The shares of Meta Platforms crashed by as much as 25% on Thursday, wiping out over $200 billion from the company’s market value. …

Meta Loses $230 Billion Of Market Value: 13 Things To Know About The Worst Ever Market Crash
2 years, 10 months ago

Meta Loses $230 Billion Of Market Value: 13 Things To Know About The Worst Ever Market Crash

ABP News  

New Delhi: Meta, formerly Facebook, lost over $230 billion of market value in early trading on Thursday, with the shares of Facebook falling over 25 per cent. The shares of the Facebook parent company fell after Meta's dismal quarterly earnings report showed declining users and surging expenses related to the company's metaverse project, according to a Forbes report. The collapse …

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