Meta Stock Soars After Hours on Metaverse Expansion, Defying Slowing Growth - Aliens: AI Crypto News & Markets Updates
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Meta Stock Soars After Hours on Metaverse Expansion, Defying Slowing Growth

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Blockworks

Wed, Apr 27, 2022

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Meta reported its slowest quarterly growth since the company went public ten years ago The platform’s web version of its metaverse will launch this year, Zuckerberg said Six months after rebranding from Facebook, Meta Platforms reported its slowest quarterly growth since the company went public in 2012.

“We expect to be meaningfully better at monetization than others in the space.” Meta reported 3.64 billion monthly users for its family of apps, which includes Facebook, Instagram, Messenger and WhatsApp, over the course of the first quarter — a 6% year-over-year increase.

“We think we are well set up to meet [requirements by] working closely with regulators and doing things in our technology like privacy enhancing technologies, to do more with less data, but we expect this to continue to be a significantly challenging time not just for us but across our whole industry.” Meta stock, which is down 48% year-to-date, was trading about 19% higher during after-hours trading following the release of the earnings report.

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