18 years from the establishment of Facebook: For the first time, daily active users fall

Its shares dropped to 26.4% after the quarterly figures disappointed investors.

Meta also said that active daily Facebook users had fallen for the first time in his 18-year history. The collapse of the company's stock price caused the net asset of chief executive Mark Zuckerberg to drop by $31 billion, according to Bloomberg Miliarders' Index.

The decline of Zuckerberg's personal wealth was equal to Estonia's gross annual domestic product.

Meta also warned of slowing income growth in the face of competition from rival platforms, including TikTok and YouTube, while advertisers are also lowering spending. Zuckerberg said the company's increase in sales was damaged as the audience, particularly new users, had fled for rivals.

The firm predicted revenues from $27 billion to 29 billion for the first quarter of this year, which was lower than analysts expected. Although the company has made investments in video services to compete with TikTok, owned by China's ByteDance technology giant, it earns less money from those offers than its traditional Facebook and Instagram sources. Clearly, Meta is facing a vortex of various problems.

Last year Apple brought her transparency policy of tracking apps. It allows people to choose whether they want to be tracked online by companies like Meta, who can then sell that information to advertisers.

This is a big problem for Facebook, because finding information about you and selling them to advertisers is exactly how you make money.

Its quarterly results showed a drop in advertising revenues, in part for this reason.

Meta's rivals, like TikTok, are also attracting the newest audience. And the growth of users is stuck worldwide. There are even bigger long - term problems.

Meta earns money from advertising. However, the name of the company has been changed to mark a concept of Metaversé a thing that does not yet exist and will not happen for years.

Mark Zuckerberg is committed to spending tens of billions of dollars on the project, even though the evidence that people want to live in virtual reality is slim. All of this means that many investors are not friends.

Meta, who owns the second largest digital advertising platform in the world after Google, also said he was hit by privacy changes in Apple's operating system.

The changes, which make it more difficult for brands to target and measure their Facebook and Instagram ads, can have an impact “on the $10 billion order” for this year, the firm said. The decline in Meta's stock price stalled on other social media platforms, including Twitter, Snap and Pinterest during Thursday's regular trade session. However, Snap's shares were dropped by almost 60% in trade after working hours after reporting the first quarterly profit, Klankosova.tv broadcast.