Facebook’s first ever drop in daily users prompts Meta shares to tumble

Mark Zuckerberg says company faces tough competition for attention from rivals such as TikTok

Analysis: why the shares are in freefall

Facebook shares fell 25% on Thursday - wiping over $200bn (147bn) off its value - after the company reported its first ever drop in daily user numbers.

The huge collapse - more than value of McDonald's - came after Mark Zuckerberg's newly rebranded social media empire, Meta, said daily active user numbers at its main app - a key growth target for investors - fell to 1.929 billion in the three months to December, from 1.93 billion in the previous quarter.