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26.04.2023 / 20:41

Meta Q1 Sales Up 3% as Social Giant Beats Wall Street Estimates

Todd Spangler NY Digital Editor Meta, parent of Facebook and Instagram, turned in better-than-expected earnings for the first quarter of 2023 — even as net income dropped sharply on a year-over-year basis. Overall, the company reported revenue of $28.65 billion, up 3% from the year prior, and net income of $5.7 billion (or $2.20 per share), down 24%. Analysts on average expected Meta to post revenue of $27.65 billion and EPS of $2.03, according to Refinitiv. Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news and more. In announcing Q1 results, the company said Facebook averaged 2.04 billion daily active users in March, up from 2.0 billion the prior quarter. Across all its apps, Meta reported daily active users of 3.02 billion on average for March 2023, an increase of 5% year-over-year.

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Breakthrough Prize Ceremony 2023 Red Carpet: See What the Stars Wore

Supporting the real superheroes. The A-list celebrated some of the brightest scientists in the world at the Breakthrough Prize ceremony on Saturday, April 14.

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Half of American Adults Support a U.S. Ban of TikTok, but Only 19% of the App’s Users Do

Todd Spangler NY Digital Editor About half of Americans are in favor of the U.S. government banning TikTok, the hugely popular video app owned by China-based internet giant ByteDance. Amid intensifying scrutiny of and antagonism toward TikTok, a newly released survey by Pew Research Center found that 50% of Americans support a U.S. government ban on the app, with 22% opposed and a sizable share (28%) unsure, according to a newly released survey conducted by Pew Research Center. Among those who actually use TikTok, just 19% support a ban. Given TikTok’s popularity among teens, it’s worth noting that Pew’s survey was fielded among U.S. adults (those 18 and older). Americans who are aware that TikTok is owned by the ByteDance are particularly likely to support banning it: About 60% of those surveyed who know TikTok’s parent company is based in China support the U.S. government banning the app, compared with 27% of those who are unaware of TikTok’s Chinese ties, according to the Pew survey.

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Meta Eyes Counterattacks as Social Media Rivals Struggle

Heidi Chung Note: This article is based on Variety Intelligence Platform’s special report “2023 Media & Tech Trend Tracker,” available exclusively to subscribers. With the rate of growth in digital advertising declining, some market entrants big and small in the social media space are feeling the competitive threat of Meta now more than ever. After registering as the most popular app download worldwide in 2022, TikTok maintained that title in the first quarter of 2023, racking up more than 186 million downloads, according to data.ai.

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Facebook founder Mark Zuckerberg welcomes third child and announces unusual name

Billionaire Mark Zuckerberg is set for many, many sleepless nights after he and wife Priscilla Chan welcomed their third child into the world.The genius behind Facebook, who was played by Jesse Eisenberg in David Fincher's acclaimed pseudo-biopic The Social Network, announced his heartwarming news via Instagram on Friday with pictures of both parents enjoying their adorable little one. "Welcome to the world, Aurelia Chan Zuckerberg! You're such a little blessing," the 38 year old wrote.

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Mark Zuckerberg Welcomes Baby No. 3 With Wife Priscilla Chan, Says She’s ‘Such A Little Blessing’

Mark Zuckerberg has a new baby at home.

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Mark Zuckerberg's Wife Priscilla Chan Gives Birth to Their Third Daughter, Couple Reveals Her Name & Shares Pics

Mark Zuckerberg and Priscilla Chan are new parents for the third time over.

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Meta Founder Mark Zuckerberg and Wife Priscilla Chan’s Family Album With 3 Daughters: Photos

Girl gang! Mark Zuckerberg and his wife, Priscilla Chan, are proud girl parents to their three daughters.

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Mark Zuckerberg and Wife Priscilla Chan Welcome Baby No. 3

Mark Zuckerberg has a new blessing in his life: another baby girl!On Friday, the Facebook co-founder announced his wife, Priscilla Chan, gave birth to their third daughter. «Welcome to the world, Aurelia Chan Zuckerberg! You're such a little blessing,» he captioned photos of them with the newborn on Instagram. The news comes after the couple announced in September 2022 that Priscilla was expecting.

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Amazon Laying Off Thousands More As Job Cuts In Sector Expand

Amazon is laying off another 9,000 workers as job cuts in the tech sector expand at a time of growing economic uncertainty. It follows cuts last fall and early this year.

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Meta to Lay Off 10,000 More Employees, Mark Zuckerberg Says

Todd Spangler NY Digital Editor Meta, parent company of Facebook and Instagram, is pink-slipping another 10,000 employees, coming on the heels of laying off 11,000 last fall. Mark Zuckerberg, Meta’s co-founder and CEO, announced the planned cuts in a memo to employees Tuesday as an “update on our Year of Efficiency.” The 10,000 layoffs represent 11.6% of the 86,482 full-time employees Meta reported as of the end of 2022. Zuckerberg said Meta also is instituting a hiring freeze, canceling about 5,000 open job positions. “Overall, we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven’t yet hired,” Zuckerberg wrote in the memo (read it below).

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Meta Cutting Another 10,000 Jobs And Instituting Hiring Freeze

Meta – the parent of Facebook, Instagram and WhatsApp – will cut another 10,000 jobs and undergo a hiring freeze in what CEO Mark Zuckerberg is calling the ‘Year of Efficiency’ for the tech giant.

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Ex-‘SNL’ Cast Member Alex Moffat To Make Broadway Debut In ‘The Cottage’

Former Saturday Night Live cast member Alex Moffat will make his Broadway debut in the upcoming comedy The Cottage, directed by Jason Alexander. Also joining the previously announced Eric McCormack, Laura Bell Bundy, and Lilli Cooper in the cast will be Nehal Joshi and Dana Steingold.

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Meta Mulling Text-Based Social Network to Rival Elon Musk’s Twitter

Todd Spangler NY Digital Editor Meta, parent of Facebook and Instagram, said it is considering launching a new Twitter-like social network. “We’re exploring a standalone, decentralized social network for sharing text updates. We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests,” a Meta spokesperson said in a statement to Variety. The rep said the company had no additional info on the prospective social network to share. News site Moneycontrol first reported on the potential Meta service, which is code-named “P92.” The new Meta app would be based on — and interoperable with — the framework that powers Mastodon, a Twitter-like service that launched in 2016 and has seen a surge in popularity since Musk’s takeover of Twitter last October.