The Gafa are not immune to the crisis. The big American tech groups Google and Meta are going through a bad patch. Compared to 2021, their profits have collapsed over the past three months.
Net profit was halved for Meta, which includes Facebook, Instagram, and WhatsApp. The Californian group does not reassure the markets. It is no longer growing in number of users: 3.7 billion people use social networks and Meta messaging every month.
The other pebble in Mark Zuckerberg’s shoe is plummeting advertising revenue. And then there are these huge expenses to develop the metaverse. More than 20 billion euros in two years. Things aren’t much better at Google.
The parent company of the tech giant recorded an increase of 6% over one year. It’s much less than expected. Like Meta, Google suffers from inflation and rising interest rates which lead many advertisers to revise their marketing budget downwards.
Meta plunges into the stock market
Meta plunged 12% after the earnings release. Then 19% after the conference, during electronic trading after the closing of the New York Stock Exchange. The social media giant stands on shaky legs “, reacted Debra Aho Williamson, analyst ofInsider Intelligence. The company has been worrying the markets since the beginning of the year, when the group first announced that it had lost users on its original social network, Facebook.
YouTube is collapsing in the face of fierce competition from streaming platforms and networks like TikTok. Only Apple, which will announce its results in the next few hours, seems to be resisting for the moment thanks to sales of the Iphone 14.