The company has lost confidence of many investors, after shares have plunged roughly 60% this year.
A year ago, Mark Zuckerberg declared virtual reality the next frontier to drive Facebook's growth. But so far, there has been very little of it.The picture worsened on Wednesday, after the company, now named Meta, updated investors on three months ended in September.The company, which also owns Instagram and WhatsApp, is struggling as companies cut advertising budgets in the face of economic uncertainty, and competition from rivals such as TikTok heats up.
"We're approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company." Shares in the firm are trading roughly 60% lower than they were at the start of the year, wiping hundreds of billions off the company's value.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Black Friday comes early at Emma: flash sale gets you 60% off mattressesThere are some incredible savings to be had in Emma's early Black Friday sale, but you'd better move fast
Lire la suite »
'Arkwright' marks 60 years of being open all hoursMeet Leicestershire's answer to Arkwright Village shop owner Don is marking 60 years of being 'open all hours' Read more here:
Lire la suite »
'World's dirtiest man' has first wash in 60 years then dies weeks laterAmou Haji was forced by locals to finally wash after he feared taking a shower would make him ill.
Lire la suite »
Cost of cheapest items in UK supermarkets soars by 60The UK’s most squeezed households are seeing the price they have to pay for some of the cheapest food in the supermarket soaring by nearly two…
Lire la suite »
Price of pasta and vegetable oil soars 60 per cent as cost of shopping basket essentials rocketsThe price of some budget food essentials have increased by more than six times the rate of Consumer Price Index (CPI) inflation, new data has revealed.
Lire la suite »
Lowest-cost groceries have become 17% more expensive in the past year, ONS data findsDoes the govt have the capital and borrowing power to help UK households in this time of crisis? 🏡 Household finance expert, Greg Marsh, raises the question after ONS data reveals low-cost groceries have become 17% more expensive in the past year 🥫🍎
Lire la suite »