Facebook daily users fall for first time as competition from TikTok grows

Meta’s shares fell 22.6% to 249.90 US dollars in after-hours trading following the announcement

Facebook has reported a fall in daily active users for the first time in its history amid growing competition from social media apps like TikTok (Dominic Lipinski/PA)

Facebook has reported a fall in daily active users for the first time in its history, as boss Mark Zuckerberg acknowledged the growing competition from rival social media apps such as TikTok.

New figures, released as part of parent company Meta’s latest financial results, show that daily users of Facebook fell to 1.929 billion people in the last three months of 2021, compared with 1.939 billion in the previous quarter.