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Facebook stopped losing users in early 2022, even though the social network owner reported the slowest revenue growth in a decade.
According to the BBC, the number of daily active users on Facebook increased to 1.96 billion in the first three months of the year, the parent company, Meta, reported on Wednesday.
This marked a turning point from last year, when the social network reported a drop in users for the first time. The decline wiped out billions from the firm’s market value.
Since executives discovered the decline in February, the firm’s share price has almost halved.
But stocks rose 19 percent after trading on Wednesday.
“More people are using our services today than ever before, and I’m proud of how our products are serving people around the world,” said Meta CEO Mark Zuckerberg, who founded Facebook in 2004. .
However Meta – which also owns Instagram and WhatsaApp – reported the slowest revenue growth in at least a decade.
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