Tag: Facebook
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Facebook parent Meta posts first revenue decline in history
Facebook and Instagram’s parent company Meta posted its first revenue decline in history on Thursday, dragged by a drop in ad spending as the economy falters – and as competition from rival TikTok intensifies. The company’s stock dropped slightly in after-hours trading following the results, suggesting Wall Street was largely expecting the weak earnings report.…
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Facebook shifts focus away from newsletter service as competition with TikTok heats up
Facebook is deprioritizing its newsletter and information-focused products in favor of services for creators, signaling a major shift by the tech titan to attract the audience that has driven TikTok’s rapid growth. People’s time spent on TikTok has rocketed up since the onset of the COVID-19 pandemic and changes to Facebook indicate it is making…