The Social Network

Meta and Amazon on Thursday blew through expectations in their latest quarterly results as Big Tech continued to impress Wall Street.

Meta, the tech titan behind Facebook and Instagram, reported a profit of $14 billion in the final three months of last year, beating analyst forecasts as revenue climbed to $40.1 billion in the quarter.

Facebook owner Meta announced a fresh wave of job cuts on March 14, part of what CEO Mark Zuckerberg called the company's "year of efficiency" as the U.S. tech sector continues to downsize.

In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the next few months, targeting middle management, and that 5,000 other roles would remain unfilled.

The owner of the social network "Facebook" - Meta collapsed in the market with 230 billion dollars - an unprecedented loss for an American company in just one day. Shares fell 26.4% after investors were disappointed by data for the last quarter of 2021.

Meta Shares Fell more than 22%

Like many companies in trouble before it, Facebook is changing its name and logo.

Facebook Inc. is now called Meta Platforms Inc., or Meta for short, to reflect what CEO Mark Zuckerberg said on Oct. 28 is its commitment to developing the new surround-yourself technology known as the " metaverse." But the social network itself will still be called Facebook.

The company reported quarterly profit and consumer growth

The profits of the social network Facebook exceeded expectations, but its shares are falling. The company reported quarterly profit and consumer growth, which exceeded all expectations, but its shares suffered a blow in market transactions, reported BGNES.

The social network Facebook is preparing for the new measures for the upcoming 2020 presidential elections in the United States, BGNES reported. The social network has announced it will monitor more closely the "state-controlled media" trying to manipulate voters' moods.

Facebook founder and CEO Mark Zuckerberg defended the not-so-strict social media rules regarding public speaking and the lack of fact-checking in political advertising.

Facebook has announced the creation of a Supervisory Board that will decide how to manage the social network. The company said the panel will look into its first case in 2020.

Facebook CEO Mark Zuckerberg said the leading social network is struggling to find ways to deal with "deepfake" videos that have the potential to cheat and manipulate users on a massive scale.

Zuckerberg said that Facebook is trying to determine whether "fakes" are different from disinformation and added that "there is a lot of evidence that they are," AFP reported.

Facebook Inc. Chief Executive Mark Zuckerberg on March 6 said the company would encrypt conversations on more of its messaging services and make them compatible, the latest sign that the world's biggest social network sees its future in intimate online chats.