Meta's net profit fell by 8%, to $ 10.3 billion in the fourth quarter, with earnings per share of $3.67, compared to expectations of 3.84 per share.
According to Arabiya Net, the company’s share plunged by 22.8% in the trading after Wednesday’s session, after the company previously known as Facebook announced its financial results for the fourth quarter of the year 2021, which came less than expectations, and the reason for this is the new privacy conditions of Apple and competition From TickTock Company.
Revenues rose by 20%, to $33.67 billion, while estimates were at $33.43 billion.
The number of daily active users reached 1.9 billion users in the fourth quarter, and Facebook expected to achieve revenues in the first quarter of this year ranging between 27 and 29 billion dollars, which is lower than analysts' expectations, which were referring to 30.1 billion dollars.
