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The Latest Breaking News from Meta

Facebook's Meta Posts First-ever Revenue Drop

Facebook-parent Meta reported on Wednesday its first quarterly revenue drop and a plunging profit as the social media powerhouse battles a turbulent economy and the rising phenomenon of TikTok.

Asharq Al-Awsat

Facebook parent company Meta reports first-ever losses for global tech giant

The revenue losses come as the industry contends with market instability, growth slowdowns, and increasing competition between platforms.

ABC News

Meta’s growth comes to screeching halt as company projects first revenue drop

The company in its second-quarter earnings report said it anticipates lower than predicted revenue of $26bn to $28.5bn

The Guardian - US

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Meta posts its first-ever quarterly revenue decline

The company faces competition, regulation and the cost of its metaverse pivot.

Axios

Facebook's parent company reports a drop in revenue for the first time ever

CEO Mark Zuckerberg says Meta will slow hiring and tighten its budget. Soaring inflation, interest rate hikes and other economic woes have affected the digital advertising the company depends on.

WEKU

FTC takes first major step in blocking Meta's monopoly on the metaverse

The FTC filed a complaint to block Meta's acquisition of Within, the developer of VR fitness app, Supernatural.

Input

FTC acts to block Meta from buying VR company, fitness app

Federal regulators have taken legal action to block Facebook parent Meta and its CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural

The Independent UK

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Social Media: Meta set to shut down its private messaging app for couples

According to The Verge, this app, launched in 2020, comes from Meta's New Product Experimentation (NPE) team, which develops experimental apps and services. Read more on Dynamite News:

Dynamite News

Facebook might stop removing so much COVID-19 misinformation

Meta is asking the Facebook Oversight Board to make the call. Is "free expression" more important than public health?

Input

Google's parent reports slowest quarterly growth in 2 years

Google’s revenue growth during the past quarter decelerated to its slowest pace in two years as advertisers reined in their spending amid fears of an economic recession

The Independent UK

Facebook is making radical changes to keep up with TikTok

Facebook is overhauling its flagship app and Instagram to be more like the video platform that's so popular with Gen Z. Some people, like Kim Kardashian and Kylie Jenner, say it's trying too hard.

WEKU

Meta can't afford to sell the Quest 2 for $299 anymore

Prices will start at $399 on August 1, but at least you'll get Beat Saber included.

Input

Instagram’s pivot to video may be its death knell

As Kylie Jenner and Kim Kardashian call for Instagram to ‘stop trying to be TikTok’ and influencers say the platform is hindering their careers, Olivia Petter asks if this is the end of our love affair with Instagram

The Independent UK

Instagram CEO responds to Kim and Kylie's disdain for app's many changes

"I love photos. I know a lot of you out there love photos, too," Adam Mosseri attempts to explain.

Input

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The Hindu

CM urges social media to regulate content

Campaign for children’s online safety launched

The Guardian - UK

Facebook considering ending restrictions on Covid misinformation

Social network turning to its ‘supreme court’ about decision, says head of global affairs, Nick Clegg

Benzinga

Looking At Meta Platforms's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Meta Platforms (NASDAQ:META). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Input

Can Pico's new VR headsets compete with Meta's Quest 2?

Pico, owned by TikTok's parent company, ByteDance, looks like it might try to challenge Meta’s Quest 2 and Quest Pro VR headsets in the U.S.

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Benzinga

How Will Alphabet, Meta Platforms Shares React To Earnings Following Snap's Collapse?

Shares of several digital advertising names, including Alphabet Inc (NASDAQ: GOOG) and Meta Platforms Inc (NASDAQ: META), traded lower last week on Snap Inc's (NYSE:

Benzinga

Monday Market Update

Good Morning Everyone! Remember, it’s the best time to buy great companies at a great price and leave them alone.

Axios

Facebook's TikTok-like redesign marks sunset of social networking era

Facebook's TikTok-style redesign marks the end of the era in which your friends shaped your online life.

Asharq Al-Awsat

Tech Giants to Self-regulate in Reducing Harmful Content in New Zealand

Big tech companies agreed on Monday to reduce harmful online content in New Zealand, making a move that critics said dodged the alternative of government regulation. Meta Platforms Inc, Alphabet-owned Google , TikTok, Amazon.com Inc and Twitter had signed a code of practice, said Netsafe, a government-funded internet-safety group, Reuters…

The Guardian - AU

Social media companies promise to reduce harmful content in New Zealand

Meta, TikTok, Google, Amazon and Twitter sign ‘world first’ voluntary code, which critics say is a move designed to fend off regulation

Newsroom.co.nz

Tech giants sign pact to tackle digital harm

A first of its kind agreement between social media platforms and digital stakeholders in NZ aims to set an industry standard for online safety.

Benzinga

8 Snap Analysts React To Q2 Earnings Miss: 'Not Snapping Back Anytime Soon'

Snap Inc (NYSE: SNAP) shares traded lower by 38% on Friday after the company disappointed Wall Street with its second-quarter numbers.

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