On Wednesday, Meta, the parent company of Facebook, released its financial results for the second quarter ending in June, surpassing Wall Street’s expectations. The company reported a revenue of $32 billion, an 11% increase compared to the same period last year. Additionally, Meta’s profits for the quarter reached $7.79 billion, marking a 16% increase from…
Meta’s Twitter competitor, Threads, has introduced a significant update to the app, aiming to maintain its momentum since its launch two weeks ago. The latest features include a translation button and a dedicated tab in users’ activity feed, showing who has followed them. Cameron Roth, a software engineer working on Threads, announced the updates, assuring…
Comedian Sarah Silverman and authors Christopher Golden and Richard Kadrey have filed separate lawsuits against Meta and OpenAI, alleging that the companies used copyrighted materials from their books to train their AI language models without permission. The lawsuits were filed in a San Francisco federal court and seek class action status.Concerns have been raised about…
In less than 48 hours, Meta’s Twitter rival Threads has gained over 70 million sign-ups, prompting concerns about the accumulation of power for Meta and CEO Mark Zuckerberg, as some users worry about a potential monopoly. The success of Threads can be attributed to the dissatisfaction with Elon Musk’s ownership of Twitter and the integration…
Meta, the parent company of Facebook, has launched its latest app, Threads, in a direct challenge to Twitter’s real-time conversation space. The app, which bears many similarities to Twitter in terms of layout and features, aims to provide a platform for real-time conversations and connecting with like-minded people. Meta CEO Mark Zuckerberg expressed his vision…
The rivalry between Mark Zuckerberg and Elon Musk escalates as Zuckerberg’s Meta teases Threads, a new app challenging Twitter’s real-time conversation space, set to launch on Thursday.Threads, resembling Twitter, emphasizes conversations, building a following, and connecting with like-minded people, according to the App Store description. The App Store description of the app offers a clear…
In response to the increasing demand for transparency in artificial intelligence, Meta has unveiled a range of tools and information designed to help users understand how AI influences the content they see on its apps. The social media giant has introduced nearly two dozen explainers that focus on various features of its platforms, including Instagram…
Facebook-parent Meta has announced its plans to lower the minimum age requirement for its virtual reality headsets, allowing children as young as 10 years old to use the devices. This decision comes despite pressure from lawmakers who have urged the company not to market VR services to younger users. In a blog post, Meta stated…
Fool.com contributor and finance professor Parkev Tatevosian compares Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Meta Platforms (NASDAQ: META) to determine which growth stock is better for long-term investors. This video was originally published on the Parkev Tatevosian, CFA YouTube channel
Days after Apple unveiled its $3,499 mixed reality headset, Meta CEO Mark Zuckerberg took a veiled swipe at the company’s pricing and product vision. Speaking at an all-hands meeting with Meta employees, Zuckerberg contrasted Apple’s demos of a person sitting alone on a couch with Meta’s focus on active engagement through its Quest VR headset…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has joined the growing trend of tech companies calling their employees back to the office after more than three years of flexible work-from-home policies prompted by the COVID-19 pandemic. The company has announced that employees currently assigned to an office will be required to return to…
Facebook-parent company Meta has begun implementing layoffs within its business groups, as confirmed by social media posts from affected employees. Workers in operations, project management, marketing, policy, communications, and risk analytics took to LinkedIn to announce their layoffs. While Meta declined to confirm the ongoing reductions, a spokesperson referred to CEO Mark Zuckerberg’s March blog…
Meta, formerly known as Facebook, has been hit with a record €1.2bn fine by the Irish Data Protection Commission for breaching the European Union’s privacy regulations. The company was found to have violated the General Data Protection Regulation (GDPR) by transferring personal information of European Facebook users to the US without adequate safeguards against US…
Meta Platforms (META) stock rose more than 14% on Thursday after the company reported first quarter results late Wednesday that blew away expectations while raising its forecast for the current quarter and lowering its expense outlook. As reported on Yahoo Finance, at $239, shares of the Facebook and Instagram parent company are trading at their…
Meta is to cut hundreds of jobs in London and scrap Instagram’s hub in the city as part of widespread cost-cutting measures as the social media giant wrestles with a slump in advertising revenues amid harsher economic conditions. As reported on Evening Standard, the firm will sack as many as 687 staff, representing around 10%…
Meta, which owns Facebook, Instagram and WhatsApp, has announced plans to cut 10,000 jobs. As reported on BBC, this marks the second wave of mass redundancies from the tech giant, which laid off 11,000 employees last November. Meta chief executive Mark Zuckerberg said the cuts – part of a “year of efficiency” – would be…
Meta is testing a subscription service which will allow Instagram and Facebook users to pay to get verified, Mark Zuckerberg announced on Instagram. “Meta Verified” will start at $11.99 a month on the web or $14.99 a month on iOS, and the company will begin releasing it in Australia and New Zealand this week and…
Meta, which owns Facebook, Instagram and WhatsApp, has announced that it will cut 13% of its workforce. As reported by BBC, the first mass lay-offs in the firm’s history will result in 11,000 employees, from a worldwide headcount of 87,000, losing their jobs. Meta chief executive Mark Zuckerberg said the cuts were “the most difficult…
