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Meta has warned of slowing growth in 2022

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Meta has warned of slowing growth in 2022

by Pooja Sahu
February 3, 2022
in Business
0
Meta has warned of slowing growth in 2022

It seems that Facebook is not having a great start in 2022 as the advertising sale is been decreasing as the audience is shifting to the other platform such as TikTok.

The firm said sales growth could be just 3% in the first three months of 2022, far below its historic pace.
Profits have already been hit as the firm ploughs money into projects focused on virtual reality.
The update sent shares down 20% in after-hours trade.
The sell-off spread to similar companies, like Snap, which also saw its shares plunge.
Analysts had been expecting Meta to report strong numbers after Google-owner Alphabet shared its results yesterday.
The search giant, which also relies on advertising, reported revenues and profits that rose more than 30%.
But Meta – the parent company of Facebook, Instagram, and WhatsApp – has seen its dominance of social media challenged by companies like TikTok, known for its 30-second videos.
Meta boss Mark Zuckerberg said the firm’s sales growth had been hurt as audiences – especially younger users – left for rivals.
More than 2.8 billion people used one of its apps daily in December, but growth has slowed.
While the company has been making its own investments in a video to compete with TikTok, it makes less money from those offerings than its traditional Facebook and Instagram feed.

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