Meta has recently released its reports for the fourth quarter and full-year 2021, revealing that Facebook is losing daily users for the first time, along with lower-than-expected ad growth that sent its stock plunging roughly 20%.
In Meta’s recent report, Facebook’s global daily active users declined from the previous quarter for the first time, with only 1.93 billion users logging in daily. Facebook lost daily users for the first time in its 18-year history — declining by about half a million users in the last three months of 2021, said in a report by Washington Post.
The report also noted that the loss was greatest in Africa and Latin America, suggesting that the company’s product is saturated worldwide and that its quest to add as many users as possible has peaked.
The decline of Facebook in daily users is said to be the reflection of the younger who now prefer using other platforms like TikTok.
“People have a lot of choices for how they want to spend their time, and apps like TikTok are growing very quickly,” Mark Zuckerberg said during an earnings call Wednesday, according to the Washington Post.
Meanwhile, Meta saw its stock fall over 20% in after-hours trading, dropping to about USD 249 per share and wiping about USD 200 billion off its market value.
Source: Washington Post
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