Falling interest in Facebook and Instagram, TikTok the strongest rival
The META platform expects staggering profits this second quarter of this year, despite concerns about declining interest in Facebook or even Instagram. April hasn’t been the best month for the company, but Facebook shares rose yesterday.
TikTok seems to be META’s strongest rival on a global scale at the moment, growing at an alarming rate in terms of the number of users.
Also, Google reported satisfactory results, with digital sales much higher than expected and increased demand for I-Cloud services.
Even Microsoft beat Wall Street Journal analysts’ forecasts and said its Artificial Intelligence products are driving sales.
Meta still remains at risk, as the company’s leaders are obliged, according to the annual budget plans, to cut 21 thousand jobs and make the management structure more efficient for this year. The company cut its forecast for annual spending this year to $86 billion, down from the $92 billion it had previously forecast.
Revenues for the first quarter of this year also fell to 29.5 billion dollars, from 32 billion in the same period a year ago.
