Facebook’s global growth slows amid push into the metaverse
Meta’s stock price plummeted more than 20 percent in after-hours trading following the news, dropping to about $249 per share and threatening to wipe about $200 billion off its market value. 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 “Meta’s stock price tumbled more than 20% on Feb.
Its newest ambition is off to a slow start, at least by one key metric. Facebook showed for the first time on Wednesday how much of a money-losing proposition its investment in virtual- and augmented-reality hardware is — the suite of products the company dubs the metaverse.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meta Shares Plunge 20% as Facebook Reports Losing Daily Users for the First TimeMeta's disappointing Q4 2021 report caused a massive plunge in its stock, currently down over 22% in the after-hours trading session.
Read more »
US national debt exceeds $30 trillion for first time in historyAmerica’s national debt has surpassed $30 trillion for the first time in history, the Treasury Department said this week. The federal government exceeded the troubling threshold following a wave of…
Read more »
Facebook shares plunge more than 20% on weak earnings, big forecast missFacebook became Meta late last year and is now reporting results for the first time under the new name, which is a nod to its push into the metaverse.
Read more »
The Universe: Big Bang to Now in 10 Easy StepsTake a trip through time to discover the history of the universe.
Read more »
SiriusXM Adds 55,000 Self-Pay Subscribers in Fourth Quarter, Pandora Loses 130,000 UsersThe audio giant, led by CEO Jennifer Witz, also said that its Pandora music streaming business grew advertising revenue by 4 percent.
Read more »