Technologies

Meta shares plummet after disappointing earnings, user drop

Weaker-than-expected earnings overshadow the performance of Meta’s AR and VR business.

Facebook parent Meta’s stock fell more than 26% on Thursday after disappointing fourth-quarter earnings and a drop in daily users underscored how much the company relies on social media as it develops its metaverse ambitions.

Meta shares fell $85.24 to close at $237.76. The collapse in share price wiped out almost $240 billion from the social network’s value. The fall was the largest single-day drop in market value for a US company ever, according to Reuters.

The fall came after an earnings report Wednesday in which the company missed profit expectations and showed a quarterly drop for the first time in the number of daily active users on Facebook. Meta also said the augmented and virtual reality business at the heart of its metaverse plans is generating revenue but is unprofitable.

In the fourth quarter, Meta posted revenue of $33.7 billion, beating analyst expectations of $33.4 billion. However, it earned $3.67 per share, falling short of the $3.84 per share projected by analysts surveyed by Thomson Reuters. Facebook also reported a decrease of roughly 1 million daily active users, suggesting the social network may be reaching the peak of its growth.

The performance shows how Meta, which rebranded last year as part of a push toward the metaverse, remains reliant on digital advertising on the Facebook social network and its photo service Instagram. Meta is staking its future on a new, immersive iteration of the internet known as the metaverse. The company’s rebranding fueled hype around the online spaces where people will be able to work and socialize as digital avatars.

The company’s metaverse project, however, is in early stages and investments in it are eating into the company’s profits. Reality Labs, the AR and VR unit housing the Oculus headset that will help anchor the push into the metaverse, generated $877 million in fourth-quarter revenue but lost $3.3 billion.

«While we expect Meta to ramp up testing ads and commerce within its metaverse offerings this year, those efforts will be highly experimental and not likely to drive much revenue in the near term,» said Debra Aho Williamson, a principal analyst at Insider Intelligence, which was formerly eMarketer.

Like other tech companies, Meta has warned that privacy changes imposed by Apple could make it harder for businesses to measure the effectiveness of their ads on Facebook and Instagram. The company also said it expected «headwinds» caused by inflation and supply chain disruptions that affect advertiser budgets.

Facebook and Instagram users are also spending more time on the platform’s short-form video product, Reels, which doesn’t generate as much revenue as the company’s News Feed or Stories where people can post content that vanishes in 24 hours. That’s partly because Reels doesn’t include as many ads compared to News Feed or Stories.

«I’m confident that leaning harder into these trends is the right short-term tradeoff to make in order to get long-term gains. We’ve made these types of transitions before with mobile feed and Stories,» Meta CEO Mark Zuckerberg said in a call with analysts Wednesday.

On top of that, Facebook is facing more competition from other apps such as short-form video app TikTok. Facebook’s daily active users in the fourth quarter fell from 1.93 billion to 1.92 billion, with the quarterly drop mainly coming from developing countries.

Though the metaverse concept has been around for years, Meta has been hiring engineers and purchasing VR apps to bolster the creation of its virtual worlds. At Christmas, the Oculus app required to set up the Quest headset topped Apple’s App Store, suggesting that people had purchased the headsets over the holidays as a gift. The social network is also working on augmented reality glasses and, with Ray-Ban, released its first pair of smart glasses to shoot photos and videos.

Meta’s efforts to build more digital realms has been bumpy. The company still faces criticism that it doesn’t do enough to combat misinformation, hate speech and other types of offensive content, problems that will only grow more complex in the metaverse. The US Federal Trade Commission and multiple states, led by New York, are reportedly investigating potential anticompetitive practices by Oculus. This week, Meta shuttered its Diem cryptocurrency project after regulatory pushback.

The challenges haven’t stopped Meta from pushing forward with its futuristic vision of what it thinks will be the successor to the mobile internet.

«If last year was about putting a stake in the ground for where we’re heading, this year is going to be about executing,» Zuckerberg said.

Technologies

Ring Finally Goes Wire-Free for Its Latest 4K Video Doorbells

The launch of battery-powered versions of the company’s powerful AI doorbells has been highly anticipated.

Security company Ring on Wednesday announced a significant expansion of its video doorbell line, notably battery-powered versions of both its 4K and 2K models, priced from $80.

Both Amazon’s Ring and Google Nest debuted high-resolution video doorbells with new AI features in the fall of 2025. But they were wired only, and in my tests, I kept thinking, «I sure wish there were battery models available.»

Wireless video doorbells are far better for most front doors than models that require connecting to your existing doorbell wiring, which is often poorly positioned for a security camera. Mine, for example, is located on a wall beside my door that’s useless for any kind of video views, no matter how you angle a lens.

«Enhancing image quality in battery-powered doorbells means customers can enjoy reliable performance with the flexibility to install devices in a way that suits their space, whether renting or living in homes without existing wiring,» a Ring spokesperson said.

At first, I wondered whether the higher 4K resolutions and more advanced AI features would use too much power to support batteries. If so, Ring is the first to fix that issue with this suite of doorbells, including these models available for preorder right now:

Ring Battery Doorbell Pro — $250: This model offers up to 4K resolution and 10x zoom, and Ring says it features a redesigned internal architecture to support battery power.
Ring Battery Doorbell Plus (2nd-gen) — $180: This model includes a quick-release battery pack along with 2K video.
Ring Battery Doorbell (2nd-gen) — $100: This video doorbell includes 2K video, a 6x zoom and what Ring calls a «streamlined, rechargeable design,» which means you take the entire video doorbell to charge it, not just the battery — a design I greatly prefer, since Ring’s battery packs can get fiddly.

There’s also a new version of a Ring wired doorbell with 2K resolution, starting at $80. It wouldn’t be Ring without a plethora of doorbell devices to confuse newcomers, which is why I have a guide specifically for Ring video doorbells that will need some updating once I finish testing these new models.

Resolution plus an intelligence upgrade

Ring’s ordinary subscriptions of the Ring Protect plan give you cloud video storage and intelligent alerts for people, packages and vehicles, which are important but not really advanced AI. But spring for the $20-per-month Ring AI Pro cam, and this new generation of cameras opens up other capabilities.

Ring’s AI features include AI video descriptions, so if you get an alert, you can also get a summary of what the doorbell saw, including people and activities. A similar feature lets you search your video history with specific terms, such as «bike,» «truck» and so on. You also get the beta version of Ring’s Familiar Faces feature, which can ID logged faces of people who approach.

If these AI features make you uneasy and you’d rather protect your privacy, the best option is to avoid a subscription altogether or choose a lower-tier plan that gives you cloud storage without AI.

I also have a guide on how to turn off Ring’s detection and data-sharing features that might make you nervous, so you can keep what you like while ditching what you don’t.

Technologies

Today’s NYT Mini Crossword Answers for Thursday, March 26

Here are the answers for The New York Times Mini Crossword for March 26.

Looking for the most recent Mini Crossword answer? Click here for today’s Mini Crossword hints, as well as our daily answers and hints for The New York Times Wordle, Strands, Connections and Connections: Sports Edition puzzles.

Baseball is back! You’ll see baseball images patterned throughout today’s Mini Crossword grid, and when you solve the puzzle, they’ll spell out a certain word. Play ball! Er, read on for all the answers. And if you could use some hints and guidance for daily solving, check out our Mini Crossword tips.

If you’re looking for today’s Wordle, Connections, Connections: Sports Edition and Strands answers, you can visit CNET’s NYT puzzle hints page.

Read more: Tips and Tricks for Solving The New York Times Mini Crossword

Let’s get to those Mini Crossword clues and answers.

Mini across clues and answers

1A clue: Degrees for boardroom execs
Answer: MBAS

5A clue: «___ want for Christmas …»
Answer: ALLI

6A clue: What Hamlet holds while giving his «Alas, poor Yorick!» speech
Answer: SKULL

7A clue: Wild, as an animal
Answer: FERAL

8A clue: Sphere
Answer: ORB

Mini down clues and answers

1D clue: Word after «match» or «mischief»
Answer: MAKER

2D clue: Bit of writing on a book jacket
Answer: BLURB

3D clue: Penne ___ vodka
Answer: ALLA

4D clue: Window ledge
Answer: SILL

6D clue: Bay Area airport, for short
Answer: SFO

Technologies

McDonald’s KPop Demon Hunter Meals Include Bright Purple Nugget Sauce

The Derpy McFlurry mixes popping boba pearls and berry sauce into a soft-serve dessert.

McDonald’s has seen success with themed combo meals, including its holiday Grinch Meal. Now, the fast-food chain is capitalizing on Netflix’s Oscar-winning animated film, KPop Demon Hunters, with new upcoming menu items and both a breakfast meal and a lunch/dinner offering. Let’s hope you like the color purple.

The HUNTR/X Meal, named for the K-pop girl group in the movie, is a 10-piece chicken McNuggets meal that includes a medium drink and three special menu items.

Ramyeon McShaker fries come with a small bag of soy, garlic, sesame and spice seasoning, along with regular McDonald’s french fries. You sprinkle the seasoning into the provided bag, dump in the fries, shake it all up and eat.

The meal includes two new sauces for the fries and nuggets. Hunter sauce is a sweet chili sauce mixing notes of chili, garlic and pepper. But my favorite item on this new menu is Demon sauce, a bold mustard sauce with some heat and a bold purple color. There’s just not enough dark purple food out there.

There’s also a new dessert, the Derpy McFlurry, which blends creamy vanilla soft serve with berry-flavored popping boba pearls, served with a swirl of wild berry sauce. McDonald’s named it for the supernatural feline, Derpy Tiger, from the movie.

If breakfast is your bag, the new morning meal is the Saja Boys Breakfast Meal, named for the movie’s boy band.

It includes a Spicy Saja McMuffin sandwich, which is a sausage McMuffin with egg and a spicy Saja sauce, hash browns and a small drink.

Both meals come with a photocard for one of the bands and a Derpy card. The Derpy card includes a QR code you can scan to unlock online content about the film.

The full KPop Demon Hunters menu should be available at participating McDonald’s beginning March 31.

The McDonald’s Grinch meal (and its accompanying patterned socks) sold out quickly, so KPop Demon Hunters fans may want to mark their calendars and nab a meal when they are released.