The Facebook group Meta expects lower growth in the first quarter of 2022 compared to the end of 2021. An increase in sales of three to eleven percent to 27 to 29 billion dollars is expected, as the social media company announced.
Analysts had expected growth up to 30.15 billion. Meta shares fell more than 18 percent in after-hours trading on Wednesday.
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In the fourth quarter of 2021, sales increased by 20 percent compared to the same period last year to $33.67 billion. Developments in the final quarter included that the number of daily active users on Facebook fell slightly in three months, from 1.93 billion to 1.929 billion.
In the same quarter of the previous year, it had grown by 25 million. With this value, Facebook also failed to meet the expectations of the experts, who had assumed 1.95 billion users.
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Meta shared that video reels are being used more on the platform. However, these have lower monetization rates. In addition, the data protection rules have recently been tightened by the technology group Apple, among others.
App providers like Facebook have had to ask users since last year if they can track their behavior across different services and websites for advertising purposes.
Very many iPhone customers rejected this. This makes it more difficult to tailor ads to users.
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