Meta Platforms Stock News

Meta Platform shares plunged lower Thursday, potentially wiping more than $190 billion in value from the Facebook parent, after a disappointing fourth quarter earnings report that highlighted competition and technical headwinds to the world''s biggest social media company.

Stock futures slide as Meta earnings miss ripples through tech sector; Facebook parent shares plunge as TikTok nabs users, rattles Zuckerberg; Spotify shares tumble as user forecasts hit by ''Joe Rogan'' fallout; Amazon earnings on deck with labor and shipping costs in focus and Tesla is back in the crosshairs of the NHTSA.

Stock in Facebook''s parent company Meta plummeted 22% in premarket trading following its Q4 earnings.

FACEBOOK has lost users for the first time in its 18-year history hinting that its status as the worlds biggest social media app is under threat. The platforms parent company, Meta, on Wednesday delivered a gloomy mix of a sharper-than-expected drop in profit, a decrease in users and threats to its ad business that plunged []

The news wiped $200 million from the companys market value as it faces competition from TikTok and challenges from Apple

Shares in the social media giant slumped as much as 22% in premarket trading after it gave a forecast for the first quarter that missed estimates amid stagnating user growth and increasing competition from TikTok

U.S. stock futures on Thursday pointed to the end of a four-day winning streak, pressured by the weak outlook from social-media giant Meta Platforms.

By Marc Jones LONDON (Reuters) The euro and sterling edged lower as the ECB and BoE prepared to face their growing inflation challenges later on Thursday while stock markets turned red again after a disappointing status update from the firm formally known as Facebook.

Facebook CEO Mark Zuckerberg has slammed Apple''s privacy change multiple times and, during Q3 results, stressed that the Cupertino-based company''s new privacy change will adversely affect small businesses.

Tech giant executives point to to competition from TikTok and other networks, while facing numerous probes and complaints of abuse of market dominance

Facebook''s parent firm Meta on Wednesday delivered a gloomy mix of a sharper-than-expected drop in profit, a decrease in users and threats to its ad business that plunged shares some 22 per cent in after-hours trading. Already jittery markets have punished pandemic-era darlings including Netflix for disappointing results, with Meta getting a taste of that after its $10.3 billion quarterly profit and daily user-growth fell short of expectations. Yet the signature Facebook platform also reported losing roughly one million daily users globally between the last two quarters of 2021 a tiny number on an app with nearly two billion daily users, but a potentially worrying signal of stagnation. CFO Dave Weiner told analysts that user growth was impacted by headwinds including disproportionate growth in the Asia-Pacific during the pandemic that has slowed and an increase in mobile data prices in India. In addition to these factors, we believe competitive services are negatively impacting growth, particularly with younger audiences, Weiner added.

Facebooks global daily active users declined from the previous quarter for the first time, to 1.929 billion from 1.930 billion.

Facebook owner Meta Platforms'' shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast.

Facebook parent Meta Platforms Inc (NASDAQ: FB ) shares plunged nearly 23% to $249.05 in after-hours trading on Wednesday. Whats Moving? The Mark Zuckerberg -led company declared fourth-quarter earnings per share of $3.67 on Wednesday, missing the Street estimate of $3.84. Revenue in the period came in at $33.67 billion, which was above the estimated $33.38 billion, according to data from Benzinga Pro. In regular trading, Meta shares had closed Full story available on Benzinga.com

The Aussie businessman said that Facebooks failure to remove the fraudulent ads featuring him and dozens of other high profile celebs was criminally reckless.