Facebook loses daily users internationally for first time ever, stocks drop roughly 20%
As of December 31, 2021, Facebook has 2.91 billion monthly active users (MAUs), a 4% growth year over year. In 2021, Meta produced about $40 billion in profit, primarily from advertising.
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FollowFor the first time, Facebook has lost daily users internationally, owing to lower-than-expected ad growth, which pushed the company's stock down about 20%. The enormous stock plunge wiped off about $200 billion in market value in an instance. In the fourth quarter of 2021, the Meta-owned Facebook network had 1.929 billion daily users, up from 1.93 billion in the previous quarter. Late on Wednesday, the corporation revealed the first consecutive fall in its history. As of December 31, 2021, Facebook has 2.91 billion monthly active users (MAUs), a 4% growth year over year. In 2021, Meta produced about $40 billion in profit, primarily from advertising.
"We had a strong quarter as individuals turned to our products to stay connected, and companies continued to utilise our services to flourish," said Meta founder and CEO Mark Zuckerberg. "I'm delighted by the progress we've achieved this year in several critical growth areas like Reels, commerce, and virtual reality, and we'll continue to invest in these and other key objectives in 2022 as we seek to construct the metaverse," he said.
Facebook, Instagram, Messenger, WhatsApp, and other applications are part of the company's family of apps. The slowdown in user growth coincided with the announcement by the corporation, formerly known as Facebook that it would rebrand as a "metaverse" company.
Meanwhile, Mark Zuckerberg has stated that the parent business of his social media empire, Facebook, is creating what he says is the world's fastest artificial intelligence supercomputer as part of ambitions to establish a virtual metaverse. Despite ongoing disagreements over privacy and misinformation, he stated that it would increase its data processing capability.
In a blog post, Zuckerberg stated that the metaverse, a concept that merges the physical and digital worlds through virtual and augmented reality, will need "enormous" computer capacity. According to the corporation, the AI supercomputer, called AI Research SuperCluster (RSC) by Zuckerberg's Meta business, is already the fifth-fastest globally. Facebook says the computer will be the fastest in the world when it is completed in mid-2022.
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