In New York’s after-hours trade, they fell by over 15% even though the tech titan released impressive financial results.
CEO Mark Zuckerberg stated that before its massive AI investment increased income, some time will pass.
Additionally, Meta reported that Threads, its competitor, now boasts over 150 million active monthly users, putting further strain on the Elon Musk-owned network.
According to analyst Mike Proulx of Forrester, “Threads is well on its way to beating news by becoming the Twitter alternative users and advertisers are longing for.”
Additionally, he claimed that Meta would suffer if TikTok were to be sold or banned in the US.
