Facebook owner Meta Platforms Inc shares plunged 20per cent late on Wednesday as the social media company missed on Wall Street earnings estimates and posted a weaker-than-expected forecast.
Shares of Alphabet Inc, which posted record quarterly sales that topped expectations on Tuesday, were down 1.3per cent. Apple's changes to its operating software give users the preference to allow tracking of their activity online, making it harder for advertisers who rely on data to develop new products and know their market.
CEO Mark Zuckerberg had previously warned that the company's investment in this area would reduce 2021 operating profit by $10 billion and would not be profitable"any time in the near future."
Source: News Formal (newsformal.com)
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