News > Mark Zuckerberg slips behind India's top billionaires as markets hammer Meta stock

Mark Zuckerberg slips behind India's top billionaires as markets hammer Meta stock

Zee News India | 04/02/2022 04:13 PM | Click to read full article

Meta lost about a million daily users globally and stagnated in the US and Canada, two of its most profitable markets. Meta reported a $10.3 billion profit for the fourth quarter, below analyst expectations of $10.9 billion and a small decline compared with a year earlier.

The pivot to Meta isn't helping Mark Zuckerberg's Facebook. Markets directed their wrath on missing fundamentals a sharper than expected decline in profits and a gloomy outlook in the first earnings report of the newly christened company Wednesday.