Facebook reassures the markets despite eroding profits

Posted Apr 28, 2022, 6:00 AMUpdated on Apr 28, 2022 at 5:42 PM

Meta managed to reassure the markets. In February, the Californian giant announced, for the first time in its history, that it was losing users. This had a catastrophic effect on its stock price. Its stock plunged 26% in one day, wiping $230 billion off its value.

On Wednesday evening, the group led by Mark Zuckerberg published mixed results, with declining profits, but it still managed to add a few tens of millions of users. Facebook shares rose 12% on Wall Street after trading closed.

Leave a Comment