Page 25 - Facebook

Data price hikes limited Facebook user growth in India, says Meta

Increase in data rates in India limited the user growth of Meta (formerly Facebook) in the December 2021 quarter, the social media major said. Telecom companies Bharti Airtel, Vodafone Idea and Reliance Jio had increased their mobile service rates in the range of 18 to 25 per cent in the December quarter. The profit of Meta declined by 8 per cent to USD 10.28 billion in the December 2021 quarter, from USD 11.21 billion in the same period a year ago. "Facebook user growth was impacted by a few headwinds in the fourth quarter. In Asia-Pacific and Rest of World, we believe Covid resurgences during prior periods pulled forward user growth. User growth in India was also limited by an increase in data package pricing. "In addition to these factors, we believe competitive services are negatively impacting growth, particularly with younger audiences," Meta's Chief Financial Officer Dave Wehner said during an earnings call. Its monthly active users (MAUs), however, grew 4 per cent on an an

Shares of Meta plunge 22% on lower profits, co loses $200 bn in valuations

If the drop holds until the market opens Thursday, the company's overall value is on track to drop by a figure greater than the size of the entire Greek economy, based on data from the World Bank

Shifting central banks, Facebook status update restart selloff

By Marc Jones

Prepaid data hike in India slowed user growth, admits Facebook

In November, leading telecom players Bharti Airtel, Reliance Jio and Vodafone Idea increased prepaid tariff rates by up to 25 per cent

Apple iOS privacy changes will cost Meta $10 billion in 2022

In an earnings call with analysts late on Wednesday, Meta CFO David Wehner said that they saw revenue impact with iOS changes in Q4 2021.

Australian mining billionaire files lawsuit against Facebook over scam ads

Forrest, Australia's richest man and chairman of Fortescue Metals Group, said he was taking the action to stop people losing money to clickbait advertising scams

Facebook loses daily users for first time ever, ad growth slows

The Meta-owned Facebook platform registered 1.929 billion daily users in the fourth quarter of 2021 -- from 1.93 billion in the previous quarter

Meta shares plunge 20% as Facebook feels heat from Apple and TikTok

Meta, which missed on Wall Street's earnings estimates, said it faced hits from Apple Inc's privacy changes to its operating system

Zuckerberg's plan to overcome Washington's aversion to metaverse

Mark Zuckerberg has a problem money can't fix: convincing Capitol Hill that the metaverse - whatever that is - isn't evil

India seeks tougher action from US tech giants on fake news: Report

India ticks off tech firms for not removing 'fake news', say sources; Indian officials tell Google to take a re-look at internal rules

The end: Facebook-backed digital currency Diem sold to bank

A once-ambitious but now faltering Facebook-backed digital currency project known as Diem is dead, its assets sold to bank holding company Silvergate Capital. Silvergate and the Diem Association announced the sale on Tuesday. Meta, which owns Facebook, did not immediately respond to a message for comment. Diem said it became clear from our dialogue with federal regulators that the project could not move ahead. As a result, the best path forward was to sell the Diem Group's assets and the project will wind down in the coming weeks. It's been clear for a while that Diem, which was first named Libra, was fighting an uphill battle with regulators. Meta has gradually distanced itself from the project. Last May, the Diem Association, which at the time included Facebook and 25 other companies entered a partnership with Silvergate Capital Corp. to issue a stablecoin backed by the US dollar. A stablecoin is a digital currency backed by real-world assets such as national currencies or other

Facebook's crypto venture to wind down after asset sale to Silvergate

Meta reports fourth-quarter earnings on Wednesday and plans to break out results of its metaverse-oriented hardware unit for the first time

Want to survive at Meta? Accept the virtual reality - or leave

Of the more than 3,000 open jobs listed on Meta's website, more than 24 percent are now for roles in augmented or virtual reality

19.3 mn content pieces 'actioned' on Facebook in India during Dec: Meta

Under the IT rules that came into effect in May last year, large digital platforms (with over five million users) have to publish periodic compliance reports every month

Google, Facebook may be forced to pay British newspapers for their stories

Tech giants such as Google and Facebook will be required to pay newspapers and other media outlets for using their stories, under new laws being drawn up by the UK Government

Consumers lost $770 million in social media scams in 2021: Report

More than 95,000 people reported about $770 million in losses to fraud initiated on social media platforms in 2021, according to a new report

Facebook's embattled crypto project may be coming to an end

The Diem Association, a cryptocurrency initiative once known as Libra backed by Meta Platforms, is weighing a sale of its assets

Meta winding up its ambitious cryptocurrency project: Report

Originally launched as Libra and later renamed as the Diem Association, the cryptocurrency initiative "is weighing a sale of its assets as a way to return capital to its investor members": Report

Meta charged users for free Internet in developing countries: Report

Launched in 2013, the initiative currently serves more than 300 million people globally

Facebook promised poor countries free internet: People got charged anyway

To attract new users, Facebook (FB) made deals with cellular carriers in countries including Pakistan, Indonesia and the Philippines