"Tech Giants Clash: Meta and Apple Spar Over Ad Revenue Cuts"
TL;DR Summary
Meta Platforms (META) reported strong earnings with a 25% increase in sales and a 203% surge in earnings, leading to a stock price surge and the announcement of its first dividend. The company also addressed Apple's 30% charge for boosted posts on its social media platforms. Additionally, Meta plans to focus on developing artificial intelligence products and is adding two new directors to its board. The stock has strong ratings and is being actively bought by fund managers.
- Facebook Parent, Apple Jostle Over Hefty 30% Cut For Ads Investor's Business Daily
- Meta Encourages Advertisers to Ditch iPhone in Latest Spat With Apple The Wall Street Journal
- Meta's Facebook, Instagram to charge Apple service fee for posts 'boosted' via iOS apps Reuters
- Apple responds to Meta's criticism of App Store rules for in-app 'boosts' purchases 9to5Mac
- Meta says it will pass on the Apple tax to advertisers paying to boost posts on Facebook and Instagram TechCrunch
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