The social media giant said sales dropped one per cent to US$116.6 billion in 2022, while it also announced that the number of users on Facebook hit two billion for the first time.
Mr Zuckerberg also lauded perfected artificial intelligence to better distribute ads after changes on the iPhone decided by Apple seriously hampered Meta's ability to target users. Big tech platforms have been suffering from the souring economic climate, which is forcing advertisers to cut back on marketing, and Apple's data privacy changes, which have reduced leeway for ad personalization.Apple sent shockwaves through the industry in 2021 when it began inviting iPhone users to opt out of having their online activity tracked by apps for the purpose of targeting ads.
Apple's iPhones hold about 55 per cent of the smartphone market in the United States and about one third of smartphone users in Europe, the world's biggest ad markets.
Source: News Formal (newsformal.com)
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