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Meta updates RTO policy with stricter mandate, saying workers may lose their jobs if they don't show up 3 days a week
(www.businessinsider.com)
this post was submitted on 18 Aug 2023
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They lost ~$10b in net income in Q4 '22 and Q1 '23 so definitely a company in some level of distress, but Q2 saw them ~$7.5b in the black.
What? They make billions in profit every quarter and have been for a long time. Meta isn't anywhere near being in trouble.
Meta net income
Q4 2023: USD 4.652Bn.
Q1 2023: USD 5.709Bn.
Q2 2023: USD 7.788Bn.
Q4 2022: Facebook monthly active users (MAUs) – MAUs were 2.96 billion as of December 31, 2022, an increase of 2% year-over-year.
Q1 2023: Facebook monthly active users (MAUs) – MAUs were 2.99 billion as of March 31, 2023, an increase of 2% year-over-year.
Q2 2023: Facebook monthly active users (MAUs) – MAUs were 3.03 billion as of June 30, 2023, an increase of 3% year-over-year.
User stigmata is correct and neither Meta nor Facebook are sinking, despite what we might want to believe.