However, Facebook came under the scrutiny of the Biden administration earlier this month when the White House scolded the social media company for not doing enough to combat misinformation on its services that discourage people from taking Covid-19 vaccines. 19 to change its complaint, and the group of states said Wednesday it will fight the court's decision. A federal court dismissed an antitrust complaint from the Federal Trade Commission against the company, along with a separate case brought by 48 state attorneys general. "We're not fully rolled out with those changes, but Q3 will have the impact more or less of those meaningfully rolled out," he said.įacebook also had some run-ins with Washington during the quarter. The degree of opting in is in line with Facebook's expectations, Wehner said. Zuckerberg said he thinks Facebook will also be able to make money from the metaverse through the sale of digital goods and experiences.įacebook said in Wednesday's statement that it still expects "increased ad targeting headwinds in 2021 from regulatory and platform changes, notably the recent iOS updates." Snap and Twitter have navigated the challenges of Apple's iOS 14.5 update, which gives people more control over apps that want to track them, without much trouble. Both companies did warn that the long-term impacts of iOS 14.5 remain to be seen, but so far, the early returns have been promising.ĭavid Wehner, Facebook's finance chief, said the company expects a larger impact from iOS 14.5 in the third quarter than in the second quarter. Zuckerberg's vision for the metaverse requires a sense of presence in a virtual world, which is why the company is investing heavily in its Oculus division to build the necessary hardware. Advertising will probably be a meaningful part of the metaverse, and Facebook's goal won't be to sell devices at a high premium, he said. "In the coming years, I expect people will transition from seeing us primarily as a social-media company to seeing us as a metaverse company," Zuckerberg said. The comments came two days after Facebook announced the formation of a team that would work on the metaverse. In Europe the count declined sequentially to 307 million from 309 million in the first quarter.ĭuring a conference call with analysts, CEO Mark Zuckerberg talked about the company's goal to help develop the metaverse, which he described as "a virtual environment where you can be present with people in digital spaces." and Canada, where Facebook generates more average revenue per user than in other regions, the company reported 195 million daily active users, the same as in the first quarter. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower
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