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https://www.npr.org/2022/04/28/ [login to see] /facebook-shrugs-off-fears-its-losing-users
More people used Facebook in the first quarter than analysts expected, easing concerns about competition from TikTok that led the world's biggest social network to lose users for the first time ever last year.
Shares in Facebook parent company Meta surged on Wednesday afternoon after it released its latest earnings report – even though the company's profits dropped and sales growth was the slowest since it went public a decade ago.
More people used Facebook in the first quarter than analysts expected, easing concerns about competition from TikTok that led the world's biggest social network to lose users for the first time ever last year.
Shares in Facebook parent company Meta surged on Wednesday afternoon after it released its latest earnings report – even though the company's profits dropped and sales growth was the slowest since it went public a decade ago.
Facebook shrugs off fears it's losing users
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Posted 2 y ago
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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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