Meta-Logo: Just take off the pink VR glasses?
Photo Credit: IMAGO/Andre M. Chang / IMAGO/ZUMA Wire
The Facebook group Meta reported the first drop in sales in its history in the evening.
After years of strong growth for the company, the current slump could herald the end of an era.
The share price, which was already under pressure this year, fell by a further percentage point in the after-hours trading.
The background to the crash is likely to be the declining number of users of the social network Facebook – and the great competition from Tiktok.
The press is analyzing the collapse of Mark Zuckerberg's meta-empire, which also includes Instagram and Whatsapp, from different angles.
"Not a complete surprise"
The »Frankfurter Allgemeine Zeitung« writes that »the unusual decline in sales did not come as a complete surprise; Meta had already warned of this in its outlook when the last quarterly figures were presented in April.
Meta makes most of its revenue from online advertising, and that business has slowed down significantly recently.”
"Der Standard" from Vienna emphasizes the role of Facebook users in the recent slump.
»The tech giant was invincible, the scandals often bounced off the shield of 'freedom of expression' or feigned innocence.
Not even the stock market reacted, and the minimal dents in the share price in California were only felt in petty cash, if at all.
So who can hurt Meta?
The answer is simple: the users of Facebook, the photo posters of Instagram and the news writers in Whatsapp«, analyzes the newspaper.
Each lost user represents a loss of $200 in stock market value.
'Because they're voting with their feet right now, and they've, if not killed the company, at least wounded it badly.
A certain panic spreads, the wounded beast suddenly lashes out wildly,
"Wall Street Journal"
The »Wall Street Journal « (»WSJ«): »It's time for the executives to take off their rose-colored VR goggles and - figuratively speaking - keep up with the Kardashians,« writes the newspaper.
Reality star Kylie Jenner of the Kardashian TV family had previously called for a new video feature: "Make Instagram Instagram Again."
According to the »WSJ«, their opinion could be just as important for the company's success as that of the increasingly concerned Wall Street analysts.