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Posted 2 y ago
Responses: 1
PO1 William "Chip" Nagel
..."Investors have been nervous about Facebook's growth since it last reported financial results in January showing its daily user base declined. That sparked Meta's worst ever day on Wall Street and has continued to drag down the stock price, slashing the company's market value by almost half since the beginning of the year.
At the time, CEO Mark Zuckerberg pointed the finger at TikTok, saying the wildly popular short video app is attracting users and advertising dollars quickly. His comments added to growing fears that Facebook and Instagram are losing traction among the next generation of internet users.
On Wednesday, Meta said daily active users of Facebook grew to 1.96 billion in the first three months of this year, ahead of Wall Street's estimates of 1.94 billion."...
..."Investors have been nervous about Facebook's growth since it last reported financial results in January showing its daily user base declined. That sparked Meta's worst ever day on Wall Street and has continued to drag down the stock price, slashing the company's market value by almost half since the beginning of the year.
At the time, CEO Mark Zuckerberg pointed the finger at TikTok, saying the wildly popular short video app is attracting users and advertising dollars quickly. His comments added to growing fears that Facebook and Instagram are losing traction among the next generation of internet users.
On Wednesday, Meta said daily active users of Facebook grew to 1.96 billion in the first three months of this year, ahead of Wall Street's estimates of 1.94 billion."...
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