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Meta’s Social Media Business is Hurting — Can Reels Fix Falling Revenue?
By David Westenhaver Nathan Friehofer has a half-million followers on Instagram, where he shares comedy and weightlifting videos. His page includes sponsored posts for protein powders and McDonald’s. He regularly racks up hundreds of thousands of views on...
Meta’s Costs Skyrocket as Zuckerberg Pushes Investments In Metaverse, AI
By David Westenhaver Facebook parent Meta Platforms Inc. reported skyrocketing expenses Wednesday as costly investments in the metaverse, artificial intelligence, servers, and data centers hurt the company’s bottom line. The social media company reported...
Meta Plans Hiring Freeze as It Seeks to Cut Staffing Costs
By David Westenhaver Meta Platforms Inc. has instituted a hiring freeze after revealing plans to trim staff, as it battles mounting expenses and seeks to recover from a rare revenue dip. CEO Mark Zuckerberg announced the hiring freeze at a weekly Q&A with...
Social Media Stocks Heading for Long Winter As Ad Revenue Growth Slows
By David Westenhaver Social media stocks have endured a bloodbath for much of the year, and their outlook remains worrisome, especially if a slowing U.S. economy cuts into ad revenue. Meta — the heavyweight champion of the social media industry thanks to Facebook and...Investment Journal
Welcome to Investment Journal, a site covering the world of business right from Times Square. The site is produced by reporters at the New York City News Service and the Craig Newmark Graduate School of Journalism at CUNY. Email your comments to greg.david@journalism.cuny.edu.