Big Eyed Bug
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Facebook COLLAPSING! Offices CLOSED as Meta in FREEFALL!!! (9 min 16 sec):
Published on Oct 5, 2022 by Dr. Steve Turley.
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... Meta Platforms is making a huge mess afterhours, after it released its quarterly earnings, with its shares down 19% at the moment, after having already plunged by 5.6% during the day. Combined during regular trading and after-hours trading, shares have plunged 23.8%.
Shares are now trading at $104.78, the lowest since February 2016, down 72% from their high in September 2021 ...
More to the point Face***k is completely upending its model.fakebook growth is over. it's old people - and they tend to die. tiktok is eating their lunch with the younger demos
wouldnt be surprised to see (nyc/dc) ban tiktok to prop up their favorite election rigger
Meta has begun its third round of layoffs as part of the company's multi-billion plan to save costs.
The latest round of cuts targets members of Meta's business groups and follows a previous round of layoffs in April that affected employees in technical roles. About 10,000 workers will lose their jobs between the April and May cuts, following the company's first round in November that affected 11,000 employees.
In April, Meta reported first-quarter revenue rose 3% from $27.91 billion a year earlier, after three straight periods in which revenue declined.
Despite the cost cuts, Meta is still investing heavily into the nascent metaverse, and its Reality Labs unit which is developing virtual reality and augmented reality technologies logged a $3.99 billion operating loss while generating $339 million in the first quarter.
Investors have praised Meta's major cost-cutting, sending the social networking giant's shares rising 177% to $264.74 since bottoming at under $89 in November.