Meta’s growth comes to screeching halt as company projects first revenue drop

  • 📰 GuardianAus
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 98%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The company in its second-quarter earnings report said it anticipates lower than predicted revenue of $26bn to $28.5bn

from its core social media product to offerings in virtual reality in 2021. It also follows difficult earnings from other tech firms including Snap, Twitter and Netflix, as fears of a recession grow.

Meta’s earnings further underscored an inflation-induced slowdown in the digital ad industry, which has been booming for decades as companies tapped the power of the internet to reach consumers. Tech firms are also struggling to maintain booming growth seen during the pandemic, which bolstered online activity as more people quarantined at home.

“Apple’s iOS privacy changes mean that Meta has lost some of the rich data tracking that powers its ad business,” said Tom Johnson, global chief digital officer at market analysis firm Mindshare Worldwide. “It will be hoping that its efforts to create a more frictionless commerce experience on the platform will compensate for this over time.”

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 1. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Facebook parent posts first revenue decline as a public companyMeta has reported its first year-over-year revenue decline since going public in 2012. 9News Good!! 9NewsAdel Fantastic news This is good news indeed, welcome to what the poor suffer every, year, of, their, lives…
Källa: 9NewsAUS - 🏆 10. / 72 Läs mer »