Meta stock plunges in response to weak growth forecasts

Facebook's ad model makes it uniquely vulnerable to privacy changes made by competitors like Apple.In a statement, the company said revenue growth for the first quarter could be as low as 3%. It said it expects its year-over-year growth in the first quarter "to be impacted by headwinds to both impression and price growth."

It expects "continued headwinds" from increased competition for people's time and "a shift of engagement" within its apps towards video products like Reels, which are harder to monetize compared to other video products in the News Feed and in Stories It also anticipates modest headwinds from "platform and regulatory changes," like the changes to Apple's app tracking privacy features.The company for the first time broke out numbers for its AR/VR segment called "Reality Labs," which includes augmented and virtual reality related consumer hardware, software and content.The company warned last year that investments in Facebook Reality Labs would reduce its overall operating profit by roughly $10 billion in 2021.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Meta shares slide more than 20% on earnings miss, weak guidanceShares of Facebook parent Meta plunged more than 20% in extended trading Wednesday on an earnings miss, weak guidance and intensifying competition. $FB reported earnings of $10.3 billion, or $3.67 a share, topping the $3.88 a share it reported last year. look like crap... time to go outside and enjoy some nature for real... tech is down again ...lol Stop shorting by hedgefunds This is a crash that is going to happen this month.. media tell to truth advise your listeners massive bankruptcy will take place in the coming weeks
Source: MarketWatch - 🏆 3. / 97 Read more »