Mark Zuckerberg says company faces tough competition for attention from rivals such as TikTok
• Analysis: why the shares are in freefall
Facebook shares fell 25% on Thursday – wiping over $200bn (£147bn) off its value – after the company reported its first ever drop in daily user numbers.
The huge collapse – more than value of McDonald’s – came after Mark Zuckerberg’s newly rebranded social media empire, Meta, said daily active user numbers at its main app – a key growth target for investors – fell to 1.929 billion in the three months to December, from 1.93 billion in the previous quarter.