Meta Platforms, Inc. (NASDAQ:FB) reported weaker-than-expected earnings Wednesday for its fourth quarter and issued a weak forecast.
On CNBC, Loup Ventures’ Gene Munster said the company has a very loyal base, but it is seeing a change in consumer behavior.
Changes is Apple’s iOS policies and regulatory concerns are expected to impact revenue growth in 2022, he said. The simple takeaway is the next six months will be challenging for Facebook to "recapture investor enthusiasm," Munster commented.
The company has a profitable advertisement business, which can benefit metaverse, he said. Although Munster said he is a believer in metaverse and it will be successful in the long term, it is going to take few months for that.
FB Price Action: Shares of Meta Platforms dipped 22.9% to $249.05 in after-hours trading following the release of fourth-quarter results.
