Shares of Facebook fell more than 20% in extended trading Wednesday after the company reported disappointing earnings, gave a weak outlook and said user growth is stagnant. Facebook said first-quarter revenue will be between $27 billion and $29 billion, while analysts had expected revenue of $30.15 billion, according to Refinitiv. That would represent 3% to 11% year-over-year growth. Meta said its Family of Apps posted fourth-quarter revenue of $32.79 billion and operating income of $15.89 billion. The Reality Labs segment posted revenue of $877 million in the quarter with an operating loss of $3.3 billion. Read more.
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David Marcus, the head of cryptocurrency efforts at Facebook parent company Meta, announced Tuesday that he will be leaving the company at the end of the year.
Tesla reached a $1 trillion market capitalisation on Monday after announcing that Hertz has ordered 100,000 vehicles to expand its electric vehicle fleet by the end of 2022. Read more.
Facebook plans to create 10,000 jobs in the European Union over the next five years to build a digital world known as the "Metaverse". Read more.
ropean stocks closed slightly higher Thursday, but still ended the month in the red. The pan-European Stoxx 600 provisionally closed up 0.2%, giving back some of its earlier gains.
Despite concerted efforts to gain approval from financial regulators, Facebook has yet to fully launch its ambitious digital currency payment project Diem. Read more.
Facebook, Inc. (FB) is one of the largest social media companies in the world and a technology giant with one of the most coveted stocks available. Read more.
Hackers have managed to come away with more than half a billion users in 2019 and this information was shared this past weekend at a hacker forum, and there are still differences as well as deficiencies which threaten to hold back the overall global economic outlook. Read more.
Private hospital operators across the entire SA have warned that they are reaching severe capacity constraints as a result of the resurgence in Covid-19 cases, Woolworths sells David Jones, and more.