For the first time in Facebook's 18-year history, the number of daily active users has dropped, according to its parent company Meta Networks. According to them, the number of daily active users on Facebook or DAU in the last three months till December has come down to 192.90 million, which was 193 million in the previous three months.
According to a BBC report, Meta expects revenue growth to slow as competition with rival companies such as YouTube and TikTok increases and advertisers cut costs. Meter shares fell 20 percent in late trading on the New York Stock Exchange. Shares of other social media companies, such as Twitter, Snap, and Pinterest, have also fallen sharply.