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Meta Eyeing “Events Related To TikTok Closely” But Too Early To Talk Impact Of Possible Ban, CFO Says
Meta is following the TikTok saga closely, it's CFO says, but it's too early to discuss the business impact of a possible ban of the popular app.
Donald Trump’s White House also took a swing at TikTok through CFIUS (Committee on Foreign Investment in the United States) but ultimately backed off. Facebook rolled out Reels to compete with the TikTok juggernaut and some analysts are predicting a windfall in ad revenue for Meta if the Chinese-owned app is banned. Facebook had a mixed first quarter report with beats on revenue and profit coming hand-in-hand with a forecast of softer sales and higher spending on AI that spooked the market.
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