Facebook reports quarterly loss of users for first time
February 4, 2022
It could be that Meta wanted to get all the bad news over with at once — it came in waves during the company’s earnings call this week. For the first time, the company said Facebook lost users — about one million daily active users last quarter. Additionally, the Reality Labs division of Meta that is spearheading the hugely-hyped Metaverse initiative lost $10 billion during the quarter, and the company warned that Apple’s App Tracking Transparency feature could knock about 10 percent off the coming year’s revenue number (another $10 billion). Investors reacted by sending the stock down 24 percent.
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