things are looking meta

debtor Mark Zuckerberg, the first three quarters of last year were rough. In July 2022, his social his media empire metaannounced its first year-over-year decline in quarterly revenue. Three months later there was another report.Investors start from highly profitable advertising business Untested Areas of the MetaverseZuckerberg was spending $10 billion a year. From his $1.1 trillion peak in August 2021 to his November, Meta has lost about three-fifths of its market value. At this time, much of our daily life was online due to the covid-19 pandemic. Shortly after he laid off 11,000 people, or 13% of his workforce. All the while, he’s fended off Trustbuster, a rival on TikTok who has proven better at attracting attention and advertising dollars than previous challengers like Snap and Pinterest.

Please listen to this story.
Enjoy more audio and podcasts at iOS Also android.

your browser is

Save time by listening to audio articles while multitasking

On February 1, Zuckerberg reported a 4.5% year-over-year decline in sales in the last three months of 2022. However, the drop was smaller than expected. The company has also released optimistic forecasts for the quarter, with revenue he believes could reach $28.5 billion. That would be more than his first three months of 2021, before Apple introduced iDevice privacy rules that made it considerably harder for advertisers to track users across the internet. Zuckerberg promised that costs were coming under control and that the company would “more aggressively cut back on projects that may not have paid off or become irrelevant.” He said he would buy back $40 billion worth of shares. Moreover, on the same day, a California judge dismissed a lawsuit filed by the Federal Trade Commission (ftc) to block Meta’s acquisition of Within, makers of the popular virtual reality fitness app.

Investors greeted all of this with big likes. Meta’s share price, already up more than 70% over the past three months, surged another 20% after hours. This brings his market capitalization to $484 billion. Squint and company were barely in the ranks of big tech companies, but they’re back.

Can Hot Streaks Continue? Zuckerberg has reason to be cautiously optimistic. Meta has figured out a way around Apple’s privacy settings.this is artificial intelligence function Improved both in the lab and in the real world. Specifically, the world of reels, an algorithm for serving short videos on Facebook and Instagram, his two profit motors on the meta. These have reportedly gotten more sophisticated at creating engagement.TikTok, owned by a Chinese company, has come under increasing scrutiny in the United States, with some politicians calling for a ban on the popular app. Even Apple is flattering Zuckerberg’s vision for the Metaverse inside out by developing its own virtual reality-like headset.

In many cases it can still go wrong. What was once recession-proof digital ad spending has become cyclical, and the economic cycle is heading downwards. Even if Meta’s western markets avoid a recession, advertisers are likely to cut spending. Despite some degree of bipartisan support for the TikTok ban, political turmoil in Washington makes it unlikely that actual legislation to that effect will materialize in the near future. faces another and more serious challenge from domestic regulators (another FTC lawsuits calling for its split) and Europe (where tough new rules for large-scale digital platforms are being finalized). Late last year, it was reported that Horizon Worlds, Meta’s main metaversal attraction, saw a decline in users. Mr. Zuckerberg is not out of the woods. But he no longer appears lost in the jungle.

Sign up to stay on top of the biggest business and technology news Conclusiona weekly subscriber-only newsletter. things are looking meta

Related Articles

Back to top button