#Facebook’s Meta reports first ever revenue drop

#Facebook’s Meta reports first ever revenue drop

“Facebook’s Meta reports first ever revenue drop” Meta Platforms issued a gloomy forecast after recording its first ever quarterly drop in revenue on Wednesday, with a global recession looming and competitive pressures weighing on its digital ads sales. Shares of the Menlo Park, California-based company were down about 3.4% in extended trading. The company said it expects…

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#Snapchat parent’s poor quarter wipes out B in ad industry market cap

#Snapchat parent’s poor quarter wipes out $80B in ad industry market cap

“Snapchat parent’s poor quarter wipes out $80B in ad industry market cap” Facebook-owner Meta Platforms, Google-owner Alphabet and other companies that sell online ads lost about $80 billion in combined stock market value on Thursday after Snap posted poor quarterly results and warned of an uncertain outlook. Slammed by a weakening economy, increased competition from TikTok and recent…

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#Facebook owner Meta releases first human rights report

#Facebook owner Meta releases first human rights report

“Facebook owner Meta releases first human rights report” Facebook-owner Meta released its first annual human rights report on Thursday, following years of accusations that it turned a blind eye to online abuses that fueled real-world violence in places like India and Myanmar. The report, which covers due diligence performed in 2020 and 2021, includes a summary of a controversial human rights impact…

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#Facebook shared deleted user data with cops: lawsuit

#Facebook shared deleted user data with cops: lawsuit

“Facebook shared deleted user data with cops: lawsuit” Facebook employees were able to access deleted user data and share details with law enforcement agencies, according to allegations included in an explosive lawsuit filed by an ex-employee who said he was ousted for raising concerns about the practice. Brennan Lawson, a former member of Facebook’s global…

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