The Meta outage, which resulted in the simultaneous shutdown of Facebook, Instagram, and Messenger, proved to be a significant financial setback for the company.
According to Dan Ives, managing director at New York’s Wedbush Securities, Mark Zuckerberg incurred an estimated loss of around $100 million in revenue on Tuesday morning due to the global outage of the platforms.
Furthermore, Meta’s share price experienced a decline of 1.5 percent as reports of the issue began surfacing around 10 am ET. Subsequently, the share price dropped by an additional 1.6 percent.
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