The shares of Meta (formerly Facebook) have plunged 23% in Wednesday’s trading session, CNBC reports. The company has reported for the first time ever a decline in the number of daily Facebook users.
In the fourth quarter, Meta's earnings per share were $3.67, while analysts had expected $3.84. The decline in the number of daily active users (DAU) amounted to 1.93 billion versus the 1.95 billion expected.
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Notably, following the release of Meta's data, the shares of other social networks have also fallen. Snap shares have fallen by more than 18%, Pinterest shares by almost 10% and Twitter shares by around 8%.
In addition, Amazon shares have registered a fall of more than 3%, and those of Microsoft, owner of LinkedIn, almost 1%.