Analysis: Competition from TikTok. A stagnant user base in key markets. A pricey bid to invest in virtual reality that could take years to pay off.These are just a few reasons investors are dumping Facebook's Meta (FB) after a disastrous earnings report, which could wipe more than AU$280 billion off the company's market value.What's happening: Meta said after markets closed on Wednesday that its profits fell during the final three months of 2021 as the social media company invested heavily in technology it needs to ramp up its offerings in the "metaverse," which it sees as the future of its business.
Load More
Load More