Meta Q3 Results: Facebook parent beats revenue, profit estimates
1 year, 1 month ago

Meta Q3 Results: Facebook parent beats revenue, profit estimates

Live Mint  

Meta Platforms, the owner of social media platforms Facebook and Instagram, beat expectations for third-quarter profit and revenue on Wednesday led by a recovery in digital advertising spending. Meta, which also owns WhatsApp, reported a 23% rise in revenue to $34.15 billion for the quarter ended September, growing at the quickest pace in two years. The company forecast 2024 spending that will exceed Wall Street estimates, as it pushed hiring needs from this year to the next and continued to invest in AI infrastructure. Meta planned to end 2024 with “meaningfully higher” headcount than its approximately 66,000-person workforce as of the end of September, CFO Susan Li said.

Company Billion Estimates Meta Beats Revenue Quarter Profit  li  beats  revenue  results  quarter  profit  facebook  range  billion  parent  estimates  meta  expenses  q3  reported  2024  company

History of this topic

Facebook’s UK office laid off over 700 workers, reduced tax bill to aggressively cut costs last year
2 weeks ago

Facebook’s UK office laid off over 700 workers, reduced tax bill to aggressively cut costs last year

Firstpost  

Meta has channelled its energy into artificial intelligence, predicting capital expenditure could reach $50 billion next year. However, user growth across Meta’s platforms has been slower than analysts hoped Meta’s cost-cutting wasn’t limited to layoffs. Image Credit: Reuters Last year, Facebook’s UK operations saw major changes as its parent company, Meta, slashed over 700 jobs and introduced aggressive cost-cutting measures. …

Meta Reports Strong Q3 Results with Record Revenue and Net Income
1 month, 3 weeks ago

Meta Reports Strong Q3 Results with Record Revenue and Net Income

China Daily  

Meta Platforms reports strong financial results for the third quarter, with revenue and net income increasing year-on-year. The company's family daily active people (DAP) also increased, indicating strong user growth. Meta expects fourth quarter 2024 revenue to be in the range of $45 billion to $48 billion, with full-year 2024 expenses in the range of $96 billion to $98 billion. …

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter
4 months, 3 weeks ago

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter

The Hindu  

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signalling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments. "Any apprehensions investors may have had about Meta's spending on AI and the metaverse are likely to be allayed by this quarter's …

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours
4 months, 3 weeks ago

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours

Associated Press  

SAN FRANCISCO — Investments in artificial intelligence will account for a significant increase in Facebook parent company Meta’s expenses in the coming year, but stronger-than-expected revenue from its advertising business was enough to reassure investors that its business is on the right track. “And unlike Google, which is grappling with making changes that will impact its core ad business, most …

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day
7 months, 4 weeks ago

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day

Daily Mail  

Meta shares crashed in after-hours trading Wednesday after the company warned profits will slip over the summer. Meta says it will see second quarter revenue between $36.5 and $39 billion. Shares were also hit after Meta said it expects overall expenses this year to be higher than it previously forecast - as the Facebook parent spends heavily to roll out …

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours
7 months, 4 weeks ago

Meta more than doubles Q1 profit but revenue guidance pulls shares down after-hours

Associated Press  

Facebook and Instagram parent company Meta said Wednesday its first-quarter profit more than doubled, boosted by higher advertising revenue and a 6% increase on the average price of ads on its platforms. The company has been investing heavily in AI and earlier this month unveiled a new set of artificial intelligence systems that are powering what CEO Mark Zuckerberg calls …

Amazon and Meta—Nothing Artificial About These Results
10 months, 3 weeks ago

Amazon and Meta—Nothing Artificial About These Results

Live Mint  

The e-commerce titan and social networking giant both posted strong fourth-quarter results late Thursday. The two beat Wall Street’s consensus targets for both revenue and operating income by wider margins than Microsoft and Google-parent Alphabet did with their respective December quarter reports earlier in the week. The company did manage to beat Wall Street’s projections for its all-important iPhone revenue, …

Facebook parent Meta declares first dividend, shares jump 12%
10 months, 3 weeks ago

Facebook parent Meta declares first dividend, shares jump 12%

Hindustan Times  

Meta Platforms issued its first ever dividend days ahead of flagship social network Facebook's 20th anniversary, while reporting revenue that beat expectations as a result of robust ad and device sales in the holiday shopping period. Meta forecast first quarter revenue of $34.5 billion to $37 billion, above Wall Street expectations of $33.8 billion. Improvements to the social media business …

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound
10 months, 3 weeks ago

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound

Associated Press  

Meta Platforms Inc. tripled its profit and posted sharply higher revenue in the final quarter of 2023, boosted by a rebound in digital advertising as well cost cutting and layoffs in what CEO Mark Zuckerberg called the “year of efficiency.” “The company can talk all it wants to about AI and the metaverse, but it’s still a social media company …

Meta reports “good” quarter after revenue growth, launch of Threads and AI products
1 year, 1 month ago

Meta reports “good” quarter after revenue growth, launch of Threads and AI products

The Hindu  

Meta CEO Mark Zuckerberg noted a “good quarter” for the company’s community and business as the social media giant reported revenue growth of 23% year-over-year to reach $34.15 billion. Zuckerberg earlier announced that 2023 would be Meta’s year of “efficiency” and the company proceeded to lay off hundreds of workers across its tech and business divisions. “I’m proud of the …

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue
1 year, 1 month ago

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue

Associated Press  

Facebook parent Meta on Wednesday posted sharply higher earnings for the third quarter, boosted by an increase in advertising revenue and lower expenses after it laid off thousands of workers. “With its sustained upward trajectory, robust user engagement, and strategic cost optimizations, Meta is not only navigating choppy waters but also setting the course for uncharted territories of growth.” Meta, …

Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Meta posts higher profit, revenue for Q2 as advertising rebounds

The Hindu  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds

Associated Press  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Facebook owner Meta touts AI might as digital ads boost outlook, shares
1 year, 7 months ago

Facebook owner Meta touts AI might as digital ads boost outlook, shares

The Hindu  

Meta Platforms Inc. CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations. "I think similar to Alphabet, a lot of Meta's AI investments have gone into the advertiser side," said James Cordwell, analyst at Atlantic Equities. …

Facebook parent Meta posts solid 1Q results, stock soars
1 year, 7 months ago

Facebook parent Meta posts solid 1Q results, stock soars

Associated Press  

Facebook parent company Meta’s first-quarter results surpassed Wall Street’s modest expectations on both profit and revenue, sending its stock soaring in after-hours trading. “We’re also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision.” Meta Platforms Inc. said Wednesday it earned $5.71 billion, or $2.20 per …

Boost for Mark Zuckerberg as Facebook-owner Meta breaks year-long slump
1 year, 7 months ago

Boost for Mark Zuckerberg as Facebook-owner Meta breaks year-long slump

The Telegraph  

Shares in Facebook’s parent company Meta soared last night as it broke a losing streak to post its first rise in sales in a year. However, profits fell by 24pc and the company revealed a big drop in sales at its virtual reality division, showing that Mark Zuckerberg’s expensive bet on the metaverse is stuttering. The company’s overall revenue rise, …

Zuckerberg's Meta to sell Kustomer business software to cut costs? It says…
1 year, 9 months ago

Zuckerberg's Meta to sell Kustomer business software to cut costs? It says…

Hindustan Times  

Meta Platforms Inc said on Friday it is exploring strategic alternatives for customer service company Kustomer that it acquired in a process ending last year. "We are currently exploring strategic alternatives for Kustomer and will continue to support Kustomer's product and customer base throughout this process," the Facebook owner said in an emailed statement to Reuters, without providing additional details …

Meta plans fresh round of job cuts months after laying off over 11,000 workers
1 year, 10 months ago

Meta plans fresh round of job cuts months after laying off over 11,000 workers

Live Mint  

After firing more than 11,000 employees towards the end of last year, Facebook Parent company Meta is now planning a fresh round of job cuts. According to a Washington Port report citing people familiar with the matter, the company is also planning to push some leaders into lower-level roles without direct reports - essentially flattening the layers of management between …

Meta plans fresh layoffs, delays setting team budgets: Report
1 year, 10 months ago

Meta plans fresh layoffs, delays setting team budgets: Report

Hindustan Times  

Facebook parent Meta Platforms Inc has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported on Saturday. Earlier this month, Meta announced that it expects its 2023 expenses at between $89 billion and $95 billion, with CEO Mark Zuckerberg calling the period a "Year of Efficiency." In recent weeks …

Meta posts upbeat outlook, plans $40 billion buyback
1 year, 10 months ago

Meta posts upbeat outlook, plans $40 billion buyback

Live Mint  

BY SALVADOR RODRIGUEZ | UPDATED 2月 01, 2023 06:12 晚上 EST Social-media giant plans to buy back additional $40 billion in shares, says its costs are set to decline and its global users increased Facebook parent Meta Platforms Inc. reported improving conditions in its underlying business and said it would buy back an added $40 billion in shares, a turnabout …

Meta posts lower Q4 profit, announces huge stock buyback
1 year, 10 months ago

Meta posts lower Q4 profit, announces huge stock buyback

Associated Press  

SAN FRANCISCO — Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. But the company’s stock soared in extended trading, as its revenue beat Wall Street’s muted expectations and the Menlo Park, California-based company announced a $40 billion stock buyback. Meta’s …

Facebook parent Meta cuts 11,000 jobs, 13% of workforce
2 years, 1 month ago

Facebook parent Meta cuts 11,000 jobs, 13% of workforce

Associated Press  

Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. Although Meta has been hurt by broader economic trends that have curtailed spending on digital ads, the company’s challenges have been compounded by the rise of …

WhatsApp, Facebook And Other Meta Companies To Fire 11,000; Read Letter From Mark Zuckerberg Here
2 years, 1 month ago

WhatsApp, Facebook And Other Meta Companies To Fire 11,000; Read Letter From Mark Zuckerberg Here

News 18  

Social media giant Meta, that owns WhatsApp, Facebook, Instagram and other companies have announced a massive round of layoffs. Here’s the full letter by Mark Zuckerberg to employees working at Meta companies. We’ve shifted more of our resources onto a smaller number of high priority growth areas — like our AI discovery engine, our ads and business platforms, and our …

Facebook Parent Meta Sacks 11,000 Employees Across Board After Disappointing Results
2 years, 1 month ago

Facebook Parent Meta Sacks 11,000 Employees Across Board After Disappointing Results

ABP News  

Meta, the parent firm of Facebook, said that the company is laying off more than 11,000 employees, which is 13 per cent of its total workforce, after a steep slide in digital ad revenue and profit. According to Wall Street Journal, in his latest meeting with senior executives, Zuckerberg is said to have confirmed "broad cuts" across the company, starting …

Meta Facebook layoff firing mass lay off twitter elon musk q3 earnings mark zuckerberg
2 years, 1 month ago

Meta Facebook layoff firing mass lay off twitter elon musk q3 earnings mark zuckerberg

ABP News  

San Francisco: After mass layoffs at Twitter, it is another Big Tech company's turn as the Mark Zuckerberg-led Meta is reportedly set to lay off 'thousands' of employees this week. The company declined to comment, referring to Zuckerberg's recent statement that the company would "focus our investments on a small number of high priority growth areas." In June, Meta's chief …

Facebook parent Meta plans large-scale layoffs this week: report
2 years, 1 month ago

Facebook parent Meta plans large-scale layoffs this week: report

The Hindu  

Facebook-parent Meta will become the latest tech firm to scale back its workforce, with plans to layoff thousands of employees this week, U.S. media reported on November 6. The Wall Street Journal, citing people familiar with the matter, reported that the layoffs could impact "many thousands" of Meta employees and that an announcement was expected as soon as November 9. …

Zuckerberg calls for patience as costs soar
2 years, 1 month ago

Zuckerberg calls for patience as costs soar

Live Mint  

Meta Platforms Inc. chief executive officer Mark Zuckerberg asked investors for patience with the social-media giant’s swelling investments in unproven bets at an already-challenging time for digital-advertising companies. On a call Wednesday, Zuckerberg sought to justify Meta’s ballooning costs to fund its version of virtual reality, the metaverse, as well as the artificial intelligence fuelling major changes to its social …

Meta's Q3 Sales Slip 4%. Mark Zuckerberg Says 3.7 Billion People Use One Of Meta's Apps Monthly
2 years, 1 month ago

Meta's Q3 Sales Slip 4%. Mark Zuckerberg Says 3.7 Billion People Use One Of Meta's Apps Monthly

ABP News  

Meta was logged a 4 per cent year-on-year revenue loss, while missing Wall Street estimates on the bottom line in the third quarter as significant metaverse investments continued to eat into earnings, reported Variety. Mark Zuckerberg, chief executive officer of Meta Platforms, in his Facebook statement said 3.7 billion people use one of Meta's apps monthly. Meta clocked total revenue …

Facebook parent Meta’s revenue, profit decline amid ad slump
2 years, 1 month ago

Facebook parent Meta’s revenue, profit decline amid ad slump

Associated Press  

Facebook parent Meta on Wednesday reported that its revenue declined for a second consecutive quarter, hurt by falling advertising sales as it faces competition from TikTok’s wildly popular video app. “We’re approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company.” Meta said it expects staffing levels …

As Meta’s revenue decline accelerates, shares sink 14 percent
2 years, 1 month ago

As Meta’s revenue decline accelerates, shares sink 14 percent

Al Jazeera  

A weak holiday quarter forecast knocked about $40bn from Meta’s stock market value in extended trade. Facebook parent Meta Platforms Inc has forecast a weak holiday quarter and significantly more losses from Metaverse investments next year, sending shares down 14 percent. The Facebook parent company beat estimates for quarterly revenue, which fell 4 percent to $27.7bn in the third quarter …

Meta reports another drop in revenue, in a rough week for tech companies
2 years, 1 month ago

Meta reports another drop in revenue, in a rough week for tech companies

NPR  

Meta reports another drop in revenue, in a rough week for tech companies Enlarge this image toggle caption Nic Coury/Bloomberg via Getty Images Nic Coury/Bloomberg via Getty Images It's gotten tougher for Big Tech. Facebook and Instagram's parent company Meta said revenue fell 4% in the three months from July through September compared to a year earlier, from $29 billion …

Get ready to pay for added features of WhatsApp, Facebook & Instagram: Reports
2 years, 3 months ago

Get ready to pay for added features of WhatsApp, Facebook & Instagram: Reports

Hindustan Times  

Social networking giant Meta is mulling more paid features for its platforms Facebook, Instagram and WhatsApp. The move will put Meta on the same course as other social media giants including Snap Inc and Twitter that launched paid tiers to unlock additional features. The top Meta executive pointed out that in the long term, the company saw paid features becoming …

Get ready to pay for added features of WhatsApp, Facebook & Instagram: Reports
2 years, 3 months ago

Get ready to pay for added features of WhatsApp, Facebook & Instagram: Reports

Hindustan Times  

Social networking giant Meta is mulling more paid features for its platforms Facebook, Instagram and WhatsApp. The move will put Meta on the same course as other social media giants including Snap Inc and Twitter that launched paid tiers to unlock additional features. {{^usCountry}} {{/usCountry}} The move will put Meta on the same course as other social media giants including …

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings
2 years, 4 months ago

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings

ABP News  

Meta Platforms clocked its first ever quarterly decline in revenue on Wednesday, Reuters reported. Citing Refinitiv, Reuters mentioned total revenue, which consists almost entirely of ad sales, fell 1 per cent to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. Monthly active users on Facebook came in slightly under analyst expectations at 293 crore …

Meta posts first-ever revenue drop as inflation throttles ad sales
2 years, 4 months ago

Meta posts first-ever revenue drop as inflation throttles ad sales

The Hindu  

Meta Platforms Inc issued a gloomy forecast after recording its first-ever quarterly drop in revenue on Wednesday, with a global recession looming and competitive pressures weighing on its digital ads sales. Total revenue, which consists almost entirely of ad sales, fell 1% to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. Still, the Meta …

Meta sees first ever quarterly drop, misses estimates
2 years, 4 months ago

Meta sees first ever quarterly drop, misses estimates

Al Jazeera  

Recession fears and competitive pressures are weighing on the digital ads sales of the social media giant. Meta Platforms Inc has issued a gloomy forecast after recording its first-ever quarterly drop in revenue, with recession fears and competitive pressures weighing on its digital Shares of the Menlo Park, California-based company were down about 4.6 percent in extended trading. “The situation …

Facebook parent Meta posts first revenue decline in history
2 years, 4 months ago

Facebook parent Meta posts first revenue decline in history

Associated Press  

Meta, the parent company of Facebook and Instagram, posted its first revenue decline in history Thursday, dragged down by a drop in ad spending as the economy falters — and as competition from rival TikTok intensifies. CEO Mark Zuckerberg said Meta is slowing its pace of investments and plans to “steadily reduce” employee growth after a hiring blitz earlier this …

As Zuckerberg bets on TikTok-style videos, Meta heads for first-ever revenue drop
2 years, 4 months ago

As Zuckerberg bets on TikTok-style videos, Meta heads for first-ever revenue drop

The Hindu  

Meta's future may lie in the metaverse, but when the company reports results on Wednesday, investors will be focused on two more immediate bets: pumping up short-video offering Reels to compete with TikTok and rebuilding its ads system after Apple throttled access to user data. Meta is also investing heavily to rebuild its ads system around its own user data, …

Facebook suffers first ever fall in revenues as advertising slows
2 years, 4 months ago

Facebook suffers first ever fall in revenues as advertising slows

The Telegraph  

Mr Zuckerberg, 38, bet big on the metaverse last year in an effort to return the company to growth. On Wednesday, the US Federal Trade Commission filed an injunction to block Meta’s purchase of Within, a virtual reality company, and accused Mr Zuckerberg of an “illegal acquisition to expand virtual reality empire”. Revenues from its WhatsApp messaging app and virtual …

Facebook's parent company reports a drop in revenue for the first time ever
2 years, 4 months ago

Facebook's parent company reports a drop in revenue for the first time ever

NPR  

Facebook's parent company reports a drop in revenue for the first time ever Enlarge this image toggle caption Noah Berger/AFP via Getty Images Noah Berger/AFP via Getty Images Facebook parent Meta was hit with a double whammy in the last three months: revenue fell for the first time ever and profit shrank for the third straight quarter, amid growing competition …

Facebook’s parent company Meta tells hardware staffers to prepare for cutbacks
2 years, 7 months ago

Facebook’s parent company Meta tells hardware staffers to prepare for cutbacks

The Hindu  

Facebook-owner Meta Platforms Inc is preparing cutbacks in its Reality Labs division, a unit at the centre of the company's strategy to refocus on hardware products and the "metaverse," a spokesperson confirmed to Reuters on Wednesday. The world's biggest social media company last month told investors that it would scale back costs in 2022, following a drop in Facebook users …

Meta shares surge after Facebook ekes out user growth
2 years, 7 months ago

Meta shares surge after Facebook ekes out user growth

The Hindu  

Meta Platforms Inc surprised Wall Street with a profit beat and Facebook returning to user growth, although Meta forecast a conservative revenue outlook for the current quarter. Meta's profit soundly beat Wall Street targets at $2.72 per share, compared with an analyst consensus of $2.56, according to IBES data from Refinitiv. Facebook daily active users, a key metric for advertisers …

Shares of Facebook parent Meta soar despite growth slowdown
2 years, 7 months ago

Shares of Facebook parent Meta soar despite growth slowdown

Associated Press  

Facebook parent Meta’s first quarter profit and its count of daily users jumped past Wall Street’s expectations despite the company’s slowest revenue growth since going public a decade ago. Google also reported a revenue growth slowdown, but for Meta this appeared to have been mitigated by an increase in daily active users that “was enough to send the shorts covering …

How Did Wall Street Get Meta’s Earnings So Wrong?
2 years, 10 months ago

How Did Wall Street Get Meta’s Earnings So Wrong?

Bloomberg  

If you have a teenager in your house, you’ve known for a while that the Facebook app isn’t as cool as it used to be. Even so, Wall Street has held its parent company, renamed Meta Platforms Inc. last year, in the highest esteem. For years, analysts’ price targets kept climbing, at times implying double-digit returns. On that day, the …

Meta, formerly Facebook, faces historic drop as stock tanks
2 years, 10 months ago

Meta, formerly Facebook, faces historic drop as stock tanks

Hindustan Times  

Shares in Facebook parent company Meta are in the midst of their worst day ever Thursday after the social media giant reported a rare decline in profit due to a sharp increase in expenses as it invests heavily in its transformation into a virtual reality-based company. In addition, recent privacy changes by Apple make it harder for companies like Meta …

Facebook's total user base declines for the first time in 17 years: Report
2 years, 10 months ago

Facebook's total user base declines for the first time in 17 years: Report

Hindustan Times  

Facebook has seen a number of controversies in recent years. According to quarterly report released by Meta, Facebook lost about half a million global daily users in the fourth quarter of 2021 as compared to previous quarter. Meta’s quarterly report on Wednesday also posted sharply higher costs but gave a weak revenue forecast, spooking the investors and knocking off almost …

Meta shares sink 20% as Facebook loses daily users for the first time
2 years, 10 months ago

Meta shares sink 20% as Facebook loses daily users for the first time

The Hindu  

Facebook owner Meta Platforms Inc's shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple's privacy changes and increased competition for users from rivals like TikTok. The 18-year-old tech giant, which also faces pressure from platforms like TikTok and Google's YouTube, said it expected slowing revenue growth in the coming quarter …

Meta shares plummet 20% after posting rare profit decline
2 years, 10 months ago

Meta shares plummet 20% after posting rare profit decline

CNN  

New York CNN Business — Facebook rattled investors on Wednesday by posting a rare profit decline, driven by the company’s heavy spending on its vision for a so-called metaverse while simultaneously confronting advertising challenges on its existing services. CFO Dave Wehner had previously warned that investments in Reality Labs would reduce the company’s overall operating profit in 2021 by about …

Facebook owner Meta to lift veil off its metaverse business
2 years, 10 months ago

Facebook owner Meta to lift veil off its metaverse business

The Hindu  

Since October, Facebook has renamed the company, articulated a vision of the internet where people can digitally connect through virtual-reality avatars or teleport to see places like ancient Rome, and helped trigger the metaverse investment craze. Meta plans to break out the results of its augmented and virtual-reality hardware unit, Reality Labs, for the first time,an investment the company previously …

Discover Related