The financial report of CNBC US stock technology giant is no longer popular, and TikTok has become a "magic spell" in the minds of all companies

Xinhua Finance, Beijing, May 5 (Xinhua) According to CNBC, with the release of the first quarter financial report, most of the performance of the US stock technology giants is no longer impressive.
The financial reports of major science and technology stocks show that the decline of digital advertising revenue has become a common problem.
(Screenshot of CNBC report) In addition to the new crown epidemic and the change of iOS privacy policy, which led advertisers to cut back on spending, there is another factor that has become increasingly influential - the rapidly rising TikTok has seized the cake originally belonging to the giants, and the proportion of its share is growing.
How popular is the rising TikTokTikTok overseas? According to the report of Insider Intelligence, a data company, TikTok will become the third largest social platform in the world in 2021, second only to Facebook and Instagram under Meta.
Where the user is, the advertiser's eyes are there.
"In the field of social media, users are spending more and more time on short videos," said an analyst at Atlantic Equities.
"In this trend, TikTok has benefited most.
Many people believe that TikTok will form a strong challenge to established giants such as Meta.".
According to Insider Intelligence, TikTok will harvest 750 million new global monthly active users in 2022, and its share in the social media market will exceed 20%, and even reach 25% in 2024.
Compared with the weak financial reports of US technology stocks, the situation of Meta is not so optimistic.
In the latest financial report, Meta's revenue increased by 7% in the first quarter, the lowest growth rate in 10 years since its listing.
At the same time, the company predicts that advertising revenue in the second quarter may be lower than the same period last year.
In recent years, due to the stagnation of the growth of users of the core product Facebook, the much anticipated meta universe is not enough to stir up the beam, and Meta has fallen into the predicament of weak growth.
In order to defeat TikTok, Meta also launched its own short video product Reels, which is strongly associated with Facebook and Instagram.
Because the product functions and interfaces are very similar to TikTok, Reels is also called a replica of TikTok by many people.
At the financial report conference, CEO Zuckerberg said that Reels would be one of the three major performance growth engines of Meta in the future.
It is reported that users spend 20% of their time using Reels on Instagram and 50% on Facebook.
Meta will devote more energy to Reels in the future.
The same is true of Alphabet, Google's parent company.
The financial report showed that the advertising revenue of the company's core product YouTube was 6.869 billion US dollars, a sharp decrease of 20% month on month, far below the market expectation of 7.51 billion US dollars.
Before the financial report, Alphabet predicted that YouTube would grow by 25%;
But in fact, this figure is only 14%, which is significantly different from the expected

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The financial report of CNBC US stock technology giant is no longer popular, and TikTok has become a "magic spell" in the minds of all companies

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