He told tech publication The Verge that people shouldn't live through "small, glowing rectangles". The Facebook boss described it as "an embodied internet where instead of just viewing content - you are in it". In April, for example, the Irish Data Protection Commission launched an investigation into a data leak in which the details of hundreds of millions of Facebook users were published online.įacebook said it was "co-operating fully" with the relevant authorities.ĭespite concerns over privacy, Mark Zuckerberg recently laid out his plans to transform Facebook from a social media network into a "metaverse company" in the next five years.Ī metaverse is an online world where people can game, work and communicate in a virtual environment, often using virtual reality (VR) headsets. Other technology firms "have seemed to navigate this challenge but all will see a negative impact longer-term" he said.įacebook also faced several investigations over its handling of users' personal information, both in the UK and Ireland and overseas. Paolo Pescatore, an analyst at PP Foresight, said: "It is apparent that the Facebook user base is skewed to iOS users and will continue to be negatively impacted from the iOS change. If consumers opt out of being tracked, it makes it harder for firms such as Facebook to target adverts, which make up a big chunk of their revenue.
They are aimed at limiting advertisers from tracking iPhone users without their knowledge, which Facebook said was likely to have an impact on its income, particularly between July and October, and it has factored into its projections for how it will perform. The California-based company also pointed towards a number of other challenges it would face in the coming months, such as new privacy controls that Apple introduced in April. The number of people using the social network monthly rose to 2.9 billion.Īnd although its profits doubled to $10.4bn in the second quarter, the company cautioned that it expects "year-over-year total revenue growth rates to decelerate significantly on a sequential basis." Its founder and chief executive Mark Zuckerberg said: "We had a strong quarter as we continue to help businesses grow and people stay connected."
Its shares fell as much as 5% in after-hours trading. It had benefitted from firms targeting consumers with online ads during lockdown. The tech giant saw revenue rise to $29bn (£21bn) in the three months to 30 June, up from $18.69bn last year.īut it said that sales would slow "as we lap periods of increasingly strong growth". Facebook has warned that it expects revenue growth to slow down "significantly" in the second half of 2021.
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