Education on technology

Meta Platforms executives are heavily focused on boosting retention on their new Twitter rival Threads , after the app lost more than half of its users in the weeks following its buzzy launch, CEO Mark Zuckerberg told employees on Thursday. Retention of users on the text-based app was better than executives had expected, though it was "not perfect," said Zuckerberg , speaking at an internal company town hall, the audio of which was heard by Reuters. "Obviously, if you have more than 100 million people sign up, ideally it would be awesome if all of them or even half of them stuck around. We're not there yet," he said. Zuckerberg said he considered the drop-off "normal" and expected retention to grow as the company adds more features to the app, including a desktop version and search functionality. Meta is looking at adding more "retention-driving hooks" to entice users to return to the app, like "making sure people who are on the In...

Meta has recorded an eleven percent year-on-year (YoY) revenue growth for the second quarter of 2023, between the months of April and June. Despite Meta having recorded one of its best quarters since its rebranding from Facebook in 2021, the company's metaverse sector remains lacklustre. Meta's revenue climbed to $32 billion (roughly Rs. 2,62,377 crore) in the second quarter of 2023. Its fiscal second-quarter net income in 2023 was $7.79 billion (roughly Rs. 63,870 crore), up from $6.7 billion (roughly Rs. 54,928 crore) from the last year's second quarter. Meta, in its latest earnings call , did not disclose exactly how much its metaverse-related unit Reality Labs lost this quarter. The company did however say that it's metaverse unit is expecting to see more losses in the coming times. “While we are not providing a quantitative outlook beyond 2023 at this point, we expect a few factors to be drivers of total expense growth in 2024 as we continue to invest in our mos...

Facebook parent Meta on Wednesday beat market expectations for quarterly earnings, powered by a reviving digital ad business. Meta reported a profit of $7.8 billion (roughly Rs. 63,949 crore) on $32 billion (roughly Rs. 2,62,358 crore) in revenue during the recently ended quarter, as the number of people using Facebook monthly rose to 3.03 billion. "We had a good quarter," Meta chief executive Mark Zuckerberg said in an earnings call. "We continue to see strong engagement across our apps and we have the most exciting roadmap I've seen in a while..." Meta had suffered a rough 2022 amid a souring economic climate, which forced advertisers to cut back on spending, and Apple's data privacy changes, which allowed users to block ad targeting, the pillar of Meta's business. But like the other big US tech companies, Meta's share price has had a stellar 2023 that Zuckerberg in January said would be the "year of efficiency". "With two ...