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.
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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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