From our correspondent in Washington
The news of Meta Platforms is worse than expected. Formerly known as Facebook, the social networking empire that was rebranded almost a year ago by its founder Mark Zuckerberg, reported a drop in quarterly results. And as the trend doesn’t look set to change, the group’s stock was pulled down 19% on the gray market yesterday after the Nasdaq closed. Meta’s market capitalization thus falls below $300 billion, which we haven’t seen since 2016. the company that stood for the acronym “F” in GAFAM.
Meta posted a second straight quarter of sales declines. The company’s profit is reduced by 52%, reaching 4.4 billion dollars. This marks the fourth consecutive quarter of declining profits. This hasn’t happened since…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.