Meta shares sink 20% as Facebook loses daily users for the first time
The Hindu
Meta said it faced hits from Apple Inc’s privacy changes to its operating system, which have made it harder for brands to target and measure their ads on Facebook and Instagram.
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 and increased competition for users from rivals like TikTok.
(Sign up to our Technology newsletter, Today's Cache, for insights on emerging themes at the intersection of technology, business and policy. Click to subscribe for free.)
Facebook’s global daily active users declined from the previous quarter for the first time, to 1.929 billion from 1.930 billion.
More Related News