Facebook loses daily users for the first time since it launched, stock price drops 20%

The share price of Meta dropped 20 percent in after-hours trading after it announced that Facebook lost daily users for the first time in its 18-year history. Most of the dropoff came from Africa and Latin America.

From The Washington Post:

Facebook's user growth has stalled in the United States and Europe for the past several years, but the company previously made up for it by consistently adding users all over the world. These new numbers, which show a dip in daily active users on the Facebook app, suggest that Facebook is becoming saturated globally, as well — a trend that demonstrates another reason the company is pushing so forcefully into new arenas such as hardware.