Facebook has successfully overhauled its business before. This time will be harder
CNN
Ahead of its 2012 initial public offering, Facebook was in trouble. Its revenue growth was slowing, expenses were surging and it was falling behind competitors in the transition to smartphones and other mobile devices.
But within two years, the company had managed to turn things around. In the first three months of 2014, its sales grew 72% from the prior year and profits tripled after it re-organized to be "mobile first." That successful transition has since become part of Facebook's lore and a major reason for its dominance.
A decade later, the company, now called Meta (FB), finds itself at a similar crossroads. It shocked Wall Street on Wednesday when it announced declining quarterly profits, stagnating user growth and a gloomy revenue outlook for the start of this year, prompting the worst trading day in its history as a public company.
Speaker Mike Johnson is a political survivor, weathering crisis after crisis since his unlikely ascent two years ago.
Chief Justice John Roberts and Justice Elena Kagan are well matched, rhetorically forceful opposites. And they have been clashing for more than a decade over an increasingly relevant question of presidential power: How easy should it be for the president to fire the heads of independent agencies?
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Brian Walshe on Thursday came face-to-face for the first time with the man who had been having an affair with his wife before her death, as he took the stand to testify in Walshe’s murder trial.
The Supreme Court on Thursday allowed Texas to use a congressional map that will boost President Donald Trump’s effort to keep Republicans in control of Congress, blocking a lower court decision that found the new boundaries were likely unconstitutional because they were drawn based on race.
The US military carried out a strike Thursday on a suspected drug boat in the Eastern Pacific, killing four people on board, according to a social media post from US Southern Command.
A grand jury voted against indicting New York Attorney General Letitia James after being asked to look at the mortgage fraud case against her a second time, according to multiple people familiar with the development Thursday.
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