Tech giants Google, Apple and Amazon will report their latest results on Thursday as shares in Meta skyrocketed after the Facebook owner posted a smaller-than-expected slump in sales for 2022
San Francisco, (UrduPoint / Pakistan Point News - 2nd Feb, 2023 ) :Tech giants Google, Apple and Amazon will report their latest results on Thursday as shares in Meta skyrocketed after the Facebook owner posted a smaller-than-expected slump in sales for 2022.
The results of the world's biggest tech companies follow several weeks of unprecedented layoff rounds in the usually unassailable sector amid pessimism about the economic outlook.
The souring mood followed a long spell of outsized growth during the peak Covid-19 period when consumers went online for work, shopping and entertainment.
Meta as expected on Wednesday said sales fell last year, the first time that occurred on an annual basis since the company went public in 2012.
The social media giant said sales dropped one percent to $116.6 billion, while it also announced that the number of daily users on Facebook hit two billion for the first time.
But CEO and founder Mark Zuckerberg said he was upbeat about the future, pointing to the success of short videos and better delivery of ads after Apple made targeting users harder on the iPhone.
He also assured investors that Meta would take bolder decisions and run a much nimbler operation, hinting at more layoffs.
Shares in Meta jumped as much as 25 percent on Thursday, setting the bar...
Read Full Story: https://news.google.com/rss/articles/CBMiYGh0dHBzOi8vd3d3LnVyZHVwb2ludC5jb20vZW4vYnVzaW5lc3MvYmlnLXRlY2gtZWFybmluZ3MtZXhwZWN0ZWQtYXMtbWV0YS1zaGFyZS1wcmljLTE2MzYxNTguaHRtbNIBAA?oc=5
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
