Meta Loses Nearly $200 Billion in One Day, Reports Financial Times

Meta, the company owning social media platforms Facebook and Instagram, has lost nearly $200 billion following the release of its quarterly financial results, according to the Financial Times.

Investor reactions are attributed to the fact that, although the company's sales figures met market expectations, reaching $33.7 billion, Meta failed to meet forecasts for profitability and the number of active users.

The company earned only $10.3 billion instead of the expected $11 billion. Additionally, for the first time in its history, the company reported a decrease in daily active users, dropping from 1.93 billion to 1.929 billion.

As a result, the company's shares fell by over 20% in the last trading session, reducing Meta’s market value by $200 billion.