Facebook parent Meta’s quarterly earnings report on Wednesday revealed a startling statistic: For the first time ever, the company’s growth is stagnating around the world. Facebook lost daily users for the first time in its 18-year history — falling by about half a million users in the last three months of 2021, to 1.93 billion logging in each day.
The company is facing challenges on multiple fronts, as competitor TikTok booms, federal and international regulators scrutinize its business practices and it begins a lofty transition to focus on the “metaverse.”
Executives hope that the company can reinvent itself with a focus on hardware, and that doing so will distract from the company’s political problems.
Source: The Washington Post
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