Although many forecasts pointed to a fall in market value Targetwhich did not perform well in the first months of 2022, a company that owns facebook posted strong results from active daily users, which caused its stock to rise in price.

According to global supplier market closing data Refinitivereleased this Wednesday (27), prices for “slices” mark Zuckerberg rose about 15% to $2.72 per share. However, some statistics were not the best: revenue was lower than forecast, and net income fell.

Last week there were about 1.96 billion daily active users – higher than expected – while the monthly number was just below 2.94 billion.

Total revenue rose 7% to $27.91 billion, but fell short of analysts’ forecast of $28.2 billion. Net income fell about 21% to 7.47 billion in the first quarter but beat market expectations of 7.15 billion.

The organization’s revenue forecast for the second quarter of the year is between $28 billion and $30 billion. In the forecast for the first three months, the company was wary of changes in customer privacy protection. Appleits rival, and competition from new platforms such as teak currentwhich “captures” many of its followers.

Meta Plans Cryptocurrency for May

Despite the failure to develop a cryptocurrency, Meta still has plans to launch virtual currencies, tokens, and lending services for the cryptocurrency market. metaversewhich employees within the company dubbed “Zuk bucks“, a pun on Zuckerberg’s name.

This function will work in a similar way to some already existing ones such as currency ‘Robux‘ in the popular game roblox. The company will inject tokens into an application that it will control. In addition, there is also the idea of ​​”social tokens” or “reputation tokens” that could be given out as a reward for significant contributions to groups on the network.

According to an internal memo, the company is more developed in ideas related to NFTs and wants to publish and share non-fungible tokens on Facebook starting in May. Zuckerberg said in a Financial Times report that he intends to do the same on Instagram.

The group’s new projects in the digital market are part of its attempt to return to the top of the “audience” in social networks and remain active in competition with other networks.

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Source: UOL, Ars Technica