Facebook has lost over $200 billion in market value the most ever in a single day for a U.S. company.
CEO Mark Zuckerberg described the quarter as "solid" and highlighted key priorities for 2022.
"I'm encouraged by the progress we made this past year in a number of important growth areas like Reels, commerce, and virtual reality, and we'll continue investing in these and other key priorities in 2022 as we work towards building the metaverse," he said in the earnings release. with a public relations crisis after whistle-blower Francis Haugen went public with allegations that the tech giant ignored questionable and harmful content to focus on profits, among other things.
Haugen released a trove of documents related to her claims to multiple news organizations at the same time, including FOX Business. Additionally, the company's ticker FB will change to META in the first half of the year while continuing its listing on the Nasdaq.
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