Meta Loses $100 Million Due to Outage

As a result of a massive outage affecting Facebook, Instagram, and the Messenger messaging app, Meta has lost approximately $100 million in revenue. This was reported by the Daily Mail.

According to the publication, Dan Ives, the managing director of Wedbush Securities in New York, stated that the outage led to a 1.6% drop in Meta's stock price. Moreover, the company generates most of its revenue through advertising shown to users, and due to technical issues, advertisement revenue has also declined.

Ives mentioned that Meta is unlikely to disclose the extent to which the outage has impacted its finances. It is worth noting that there have been attacks on four internet cables in the Red Sea, which have also affected connectivity between Africa, Asia, and Europe. Four underwater cables have been cut, including the Asia-Africa-Europe 1 (AAE-1). The other three damaged cables are Seacom, TGN, and EIG. The company estimates this affects nearly 25% of traffic.

Previously, it was reported that massive outages occurred while accessing Facebook and Instagram in both Armenia and other countries.