By Bilal Dhudi
Meta, Facebook's parent company, has released its latest earnings report, and the news is not good.
For the first time since going public, Facebook is losing money. So what's behind this sudden drop in profitability?
There are two main factors: Apple's privacy changes to iOS that made targeting ads to users more difficult, and "supply chain disruptions"
that are causing advertisers to spend less. Combined, these factors have led to a 21 percent drop in profits for Facebook.
Image-credit: The New York Time
With user privacy becoming an increasingly important concern, it's likely that Facebook will continue to see a decline in profits in the future.
However, the company is still in a strong position, with billions of users and a massive trove of data.
It will be interesting to see how Facebook adapts in the coming years as it tries to balance privacy concerns with the need to make money.