Meta Platforms lost roughly $230 billion in market value in a single day after its February 2022 earnings report.
On February 3, 2022, Meta Platforms’ shares fell sharply after the company reported weaker-than-expected user growth and warned about competition from services such as TikTok. The decline erased approximately $230 billion in market capitalization, one of the largest single-day losses ever recorded for a public company at that time.
Meta’s results showed how quickly market value can change when a company’s future growth outlook is revised. The company also reported pressure on advertising revenue and disclosed that Facebook’s daily active users had declined for the first time on a quarterly basis.
The company was then called Meta Platforms, following its October 2021 rebrand from Facebook. Its family of apps includes Facebook, Instagram, Messenger, and WhatsApp, while its Reality Labs division develops virtual- and augmented-reality products.