Meta’s market value just dropped by more than most companies are worth
2 years, 10 months ago

Meta’s market value just dropped by more than most companies are worth

CNN  

New York CNN Business — Meta Platforms, the company formerly known as Facebook, just had itsworst trading day in its history as a public company. The company’s shares closed down more than 26% Thursday, shaving off nearly $240 billion from its market value, after a rough earnings report released after trading hours on Wednesday. Meta’s lost market value is more than the total market cap of companies like Oracle and Cisco and nearly as much as the total value of Disney. Zuckerberg owned more than 398 million Meta shares, or 14.2% of the company’s total outstanding shares, according to an SEC filing from February 2021, the most recent filing available. As Meta’s share price plummeted Thursday, the value of Zuckerberg’s stake in the company dropped by more than $30 billion.

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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 …

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 …

Elon Musk once again richer than Mark Zuckerberg: Why latter lost $18 billion
7 months, 4 weeks ago

Elon Musk once again richer than Mark Zuckerberg: Why latter lost $18 billion

Hindustan Times  

Shares of Meta Platforms Inc. tumbled by 11% on Thursday, making Elon Musk, 52, overtake Mark Zuckerberg, 39. The two billionaires moved places earlier this month when the news broke that Tesla's car sales dropped in the three months leading up to March causing Mark Zuckerberg to overtake Elon Musk for the first time since 2020. The fight between the …

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, …

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 …

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 owner Meta starts final round of layoffs
1 year, 6 months ago

Facebook owner Meta starts final round of layoffs

The Hindu  

Meta Platforms Inc. carried out the last batch of a three-part round of layoffs on Wednesday, according to a person familiar with the matter, as part of a plan announced in March to eliminate 10,000 roles. Meta earlier this year became the first Big Tech company to announce a second round of mass layoffs, after showing more than 11,000 employees …

Meta CEO Mark Zuckerberg's net worth surges over $10 billion after strong results, 2 layoff rounds
1 year, 7 months ago

Meta CEO Mark Zuckerberg's net worth surges over $10 billion after strong results, 2 layoff rounds

India TV News  

Meta founder and CEO Mark Zuckerberg's net worth surged by $10.2 billion after the company posted strong quarterly results, leading to its shares rising by nearly 14 per cent, as the company announced two rounds of layoffs impacting 21,000 employees in recent months. Meta posted revenue of $28.65 billion, an increase of 3 per cent year-over-year and beating Wall Street …

Meta to lay off 10,000 employees in second round of job cuts
1 year, 9 months ago

Meta to lay off 10,000 employees in second round of job cuts

Firstpost  

California: Facebook-parent Meta Platforms said on Tuesday it would cut 10,000 jobs, just four months after it let go 11,000 employees, the first Big Tech company to announce a second round of mass layoffs. “We expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired,” Chief Executive …

‘The next AOL?’: Meta’s massive layoffs raise questions about Zuckerberg’s strategy as company morale sinks
1 year, 9 months ago

‘The next AOL?’: Meta’s massive layoffs raise questions about Zuckerberg’s strategy as company morale sinks

CNN  

New York CNN — “A challenging period.” That’s how Mark Zuckerberg described in a memo what the near future will be like for Meta employees after he announced the once-impervious social media company will cut another 10,000 jobs in the months ahead. “At this point, I think we should prepare ourselves for the possibility that this new economic reality will …

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 gives ‘subpar’ rating to 7,000 employees, says report. More layoffs coming?
1 year, 10 months ago

Meta gives ‘subpar’ rating to 7,000 employees, says report. More layoffs coming?

Hindustan Times  

According to a report, thousands of Meta employees have received poor performance reviews from the company, raising fears that the tech giant may come up with a fresh round of layoffs, after it handed pink slips to around 11,000 workers in November last year. Representational Image Approximately 7,000 employees were ranked ‘subpar’ by Meta in a recent round of performance …

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 …

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 …

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 …

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 …

The Reason for Meta’s Massive Layoffs? Ghosts in the Machine
54 years, 11 months ago

The Reason for Meta’s Massive Layoffs? Ghosts in the Machine

Wired  

Remember Libra, Meta’s ambitious plan to enter the cryptocurrency market? Alongside projects like Shops, Meta’s ambitious plan to turn Instagram and Facebook into e-ommerce giants; its podcast plans; Facebook Portal and a Meta smartwatch to compete with the Apple Watch, they all failed. “Today’s news isn’t only a correction of the pandemic years,” says one former Meta employee with knowledge …

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 …

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 …

Mark Zuckerberg hints at lay offs at Meta in future, feels there are many employees doing nothing
2 years, 4 months ago

Mark Zuckerberg hints at lay offs at Meta in future, feels there are many employees doing nothing

India Today  

Meta is bracing for a tough quarter ahead. Recently, its CEO, Mark Zuckerberg, made it very clear that Meta has some, if not many workers, who probably don't belong at the company. As pointed out by The Verge, Zuckerberg, in an internal call with employees, even went ahead to cancel Meta Days -- extra vacation days for employees introduced during …

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 …

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 …

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. …

Mark Zuckerberg loses another $2 billion in net worth as Facebook stock continues to slide
2 years, 10 months ago

Mark Zuckerberg loses another $2 billion in net worth as Facebook stock continues to slide

Daily Mail  

Facebook stock has ended its sharp sell-off, after CEO Mark Zuckerberg lost some $30 billion in net worth, while Jeff Bezos saw his wealth soar by $20 billion as Amazon stock surged. Facebook stock has ended its sharp sell-off, after CEO Mark Zuckerberg lost some $30 billion in net worth Facebook parent Meta's stock ended Friday's session at $237.09, roughly …

Mukesh Ambani, Gautam Adani richer than Mark Zuckerberg after Meta stock shock
2 years, 10 months ago

Mukesh Ambani, Gautam Adani richer than Mark Zuckerberg after Meta stock shock

India Today  

Billionaire industrialists Mukesh Ambani and Gautam Adani are now richer than Mark Zuckerberg. This happened after Zuckerberg lost USD 29 billion in net worth on Thursday as Facebook owner Meta Platforms Inc's stock marked a record one-day plunge. META STOCK DOWN Meta's stock fell 26 per cent, erasing more than USD 200 billion in the biggest ever single-day market value …

Mukesh Ambani, Gautam Adani richer than Mark Zuckerberg as Meta loses over $251 billion in market value
2 years, 10 months ago

Mukesh Ambani, Gautam Adani richer than Mark Zuckerberg as Meta loses over $251 billion in market value

Op India  

Mark Zuckerberg lost as much as $31 billion on Thursday as Meta Platforms Inc’s stock plunged 26 per cent, erasing nearly $251 billion in market value. According to the reports, the biggest ever single-day market value wipeout has pulled down founder and Chief Executive Officer Zuckerberg’s net worth to $85 billion. As per reports, the overall stock value of Meta …

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 …

Meta's shock share price drop shakes world tech
2 years, 10 months ago

Meta's shock share price drop shakes world tech

The Hindu  

Shares in Facebook owner Meta fell 20% in U.S. premarket trade on Thursday after the social media giant issued a dismal forecast blaming Apple's privacy changes and increased competition. The shock drop, which comes before Amazon earnings later in the day, spilled over to Europe where technology led sectoral fallers with a decline of 2% and soured the mood across …

Meta, formerly Facebook, faces historic drop as stock tanks
2 years, 10 months ago

Meta, formerly Facebook, faces historic drop as stock tanks

Hindustan Times  

Shares in Facebook parent company Meta are in the midst of their worst day ever Thursday after the social media giant reported a rare decline in profit due to a sharp increase in expenses as it invests heavily in its transformation into a virtual reality-based company. In addition, recent privacy changes by Apple make it harder for companies like Meta …

Meta shares sink 20% as Facebook loses daily users for the first time
2 years, 10 months ago

Meta shares sink 20% as Facebook loses daily users for the first time

The Hindu  

Facebook owner Meta Platforms Inc's shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple's privacy changes and increased competition for users from rivals like TikTok. The 18-year-old tech giant, which also faces pressure from platforms like TikTok and Google's YouTube, said it expected slowing revenue growth in the coming quarter …

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