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HomeNEWSFor the first time! Meta could report drop in income •...

For the first time! Meta could report drop in income • ENTER.CO

Investors and economic analysts expect Meta to make the first negative earnings report in its history as a public company.

According to IBES data from Refinitiv, the report could be 0.4% less at about 29,000 million dollars. In this way, Meta will join large technology companies such as Twitter and Snapchat that have already delivered their reports for the third quarter of 2022. In addition to the decrease in income, investors believe that there could be flat reports in the number of users. As a consequence, announcements of cutbacks in hardware projects and slower hiring are expected. In this way, the company’s report will capture the interest of analysts in relation to the changes that the social network has undergone. Particularly regarding its short videos that aim to compete with TikTok and its new ad system.

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The interface redesigns presented by Meta this year aim to share against other companies in the sector. This as part of the search to maintain its users and avoid the economic impact of the competition. This year Meta is making a significant investment in rebuilding its ad system around its users. Following the privacy changes introduced by Apple last year. In his customary call with employees, Meta founder Mark Zuckerberg said the economy had gotten worse since the Reels changes were proposed. He confessed that they want to speed up the transitions so that the profits from the core business could fund the Metaverse’s stakes in the long run. The plans of Meta and its executives is to maintain the leadership of the company in the long term, for which they set a clear line of vision towards the future.

Image Timothy Hales Bennett on Unsplash

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