Meta Is Fending Off TikTok, and Revenue Growth Will Slow, Morgan Stanley Warns

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Meta Platforms made clear on its latest earnings call that the company has growing concerns about competition in short-form video from TikTok, which seems to be eating into the time social-media users commit to Meta’s Facebook and Instagram. The company also saw the number of monthly active users in the quarter drop by about 1 million, the first time that’s ever happened.

“People have a lot of choices of how they want to spend their time, and apps like TikTok are growing very quickly,” Meta (ticker: FB) CEO Mark Zuckerberg…