Facebook Stock Soars 17% As It Reports Subscriber Gains, Higher Earnings
(Meta) Shares of Meta’s Facebook rose more than 17% on Thursday after reporting 2.94 billion monthly active users in the first quarter of 2022, up 3% from the prior year.…
Meta Seeks to Introduce In-App Tokens in Diversification Push
(FT) Facebook’s parent Meta plans to introduce virtual coins, tokens, and lending services that will be offered via its apps. Dubbed “Zuck Bucks,” the virtual currency reflects Meta’s push into…
Meta Files 8 New Trademarks for Virtual Products and Services in the Metaverse
(Twitter) Facebook’s parent Meta has filed eight trademark applications to be allowed to offer various digital asset products and services in the metaverse. Meta’s applications cover crypto tokens, blockchain software,…
Meta to Discontinue Facebook and Instagram in Europe if Data-Sharing Is Blocked
(CNBC) Meta has said it will cut off European users from Facebook and Instagram if its regulators block the transfer of data to the US. Meta says the block could…
Meta’s Facebook Faces a $3.2 Billion Fine in Class Action Suit over Market Dominance
(Reuters) Meta’s social media giant Facebook is targeted in a class-action lawsuit in the UK over market dominance that could lead to a fine of up to 2.3 billion pounds…
Trillion Dollar Club: Meet the Titans of the Global Economy
A trillion dollars is unfathomable to many, but not for five global corporations in the trillion-dollar companies club. In June this year, the trillion-dollar market cap club expanded after Facebook…
Facebook to Profit Most From the $8T Metaverse Industry, Morgan Stanley Says
(Coindesk) Morgan Stanley has singled Facebook as the stock to benefit the most from the metaverse endeavors, which the bank says is an $8 trillion market in the US. Morgan…
Meta Sued by Investors For Loss of $100B on Stock Rout Due to Misleading Information
(CNBC) Ohio Attorney General Dave Yost has filed a class action suit against Facebook after its investors said they lost $100 billion due to stock slump over falsified statements on…
Why Facebook Became Meta – Understanding the Transformation
Rebranding is not rare in the world of business. Corporations rebrand to give themselves a new lease of life in the market, or they may be looking to pivot their…
Facebook Rebrands to Meta as it Eyes New Ambitions in AR and VR
(Meta) Facebook has announced a change of its name to Meta in its push to an avatar-filled virtual world or metaverse. CEO Mark Zuckerberg says Facebook represents an iconic social…
Facebook Project a $10B Profit Hit on Metaverse Exploits This Year
(Business Insider) Social media giant Facebook is expecting its investment into the Reality Labs project to cut its profit by about $10 billion this year. Facebook says it believes in…
Facebook Updates Forecast as Revenue Climbs 33% in Q3 2021
(Facebook) Facebook Inc. reported revenue of $29.010 billion in the third quarter of 2021, up 33% from the prior year. A net income of $9.194 billion was reported in the…