Meta Loss

Meta managed to reel-in $134.9 billion in the year of 2023. On a yearly basis, Meta’s revenue spiked by 16 percent. It is, however, interesting that Meta’s Reality Labs unit has only seen losses since 2021.

On September 28, Mark Zuckerberg appeared for a podcast interview with YouTuber and AI researcher Lex Fridman, but the venue of this interaction was the metaverse. In photorealistic Meta avatars, the two engaged in conversation about how Zuckerberg envisioned the future of virtual reality and the metaverse.

Meta’s revenue climbed to $32 billion (roughly Rs. 2,62,377 crore) in the second quarter of 2023. The social networking giant did not disclose exactly how much its metaverse-related unit Reality Labs lose this quarter. It did however say, that its Reality Labs division could see more dips.

New draft guidelines released by U.S. antitrust enforcers on Wednesday lay the groundwork for tougher scrutiny of planned mergers by Big Tech companies like Amazon and Alphabet's Google. The Biden administration has taken a tougher stance on mergers, filing some aggressive challenges. It had two court losses just last week.

Meta Job Cuts: Meta Platforms Inc. employees received news Wednesday of the final round of previously announced job cuts, which affected thousands of workers in the company's business departments.

Meta Platforms investors formally asked a US appeals court to revive a proposed class action accusing the Facebook parent of concealing a serious privacy breach that let a political consulting firm harvest users' personal information. The request came during oral arguments on Wednesday before the 9th US Circuit Court of Appeals in San Francisco ...

Meta’s metaverse unit recorded its largest quarterly loss that amounted to $4.3 billion (roughly Rs. 35,222 crore) between September and December 2022. Despite the losses, Mark Zuckerberg is headstrong about his strategy for Meta’s Reality Labs unit.

Snap reported on Tuesday that the firm swung to a net loss in Q4 2022 and the parent firm of popular app Snapchat expects revenue to fall by up to 10 percent in the current quarter. The company said that its business continued to be hurt by a weakening economy, increased competition from rivals and "platform policy changes".

At present, only 20 percent of Meta’s functional focus is on developing the hardware and software to support the metaverse ecosystem, Zuckerberg noted in a recent speech. Zuckerberg was speaking virtually at the New York Times DealBook Summit when he noted that his company needs to work more efficiently in order to finetune the metaverse tech on ...

Facebook’s rebranding to Meta completed a year on October 28. Sam Bankman-Fried (SBF), the CEO of the FTX crypto exchange, who is also among the biggest investors in Web3 projects, has argued that this rebranding is not fulfilling Mark Zuckerberg’s plan of churning billions.

Facebook’s parent company Meta reported that its metaverse division Reality Labs lost $3.7 billion (roughly Rs. 30,476 crore) in the third quarter of this year, bringing its accumulated losses in 2022 to $9.4 billion (roughly Rs. 77,386 crore), according to its third-quarter financial report on Wednesday.

Wall Street is losing patience over Meta boss Mark Zuckerberg's enormous and experimental bets on his metaverse project that helped drive up the company's overall costs by a fifth in the third quarter.

The top ten metaverse projects have witnessed an 80 percent downfall in the third quarter of this year. Despite the volatility, however, the interest in metaverse project has shown no signs of dwindling, a report by analytics firm DappRadar claimed recently.

In Meta’s Q2 earnings call, its chief Mark Zuckerberg announced that the company’s metaverse-focussed ‘Facebook Reality Labs’ division has reported losses of a whopping $2.81 billion (roughly Rs. 22,410 crore). Despite the financial setback, Zuckerberg has exuded confidence that in the coming years, all the trials and errors that are costin...

Meta Platforms Inc issued a gloomy forecast after recording its first ever quarterly drop in revenue on Wednesday, with recession fears and competitive pressures weighing on its digital ads sales.

Meta managed to reel-in $134.9 billion in the year of 2023. On a yearly basis, Meta’s revenue spiked by 16 percent. It is, however, interesting that Meta’s Reality Labs unit has only seen losses since 2021.

On September 28, Mark Zuckerberg appeared for a podcast interview with YouTuber and AI researcher Lex Fridman, but the venue of this interaction was the metaverse. In photorealistic Meta avatars, the two engaged in conversation about how Zuckerberg envisioned the future of virtual reality and the metaverse.

Meta’s revenue climbed to $32 billion (roughly Rs. 2,62,377 crore) in the second quarter of 2023. The social networking giant did not disclose exactly how much its metaverse-related unit Reality Labs lose this quarter. It did however say, that its Reality Labs division could see more dips.

New draft guidelines released by U.S. antitrust enforcers on Wednesday lay the groundwork for tougher scrutiny of planned mergers by Big Tech companies like Amazon and Alphabet's Google. The Biden administration has taken a tougher stance on mergers, filing some aggressive challenges. It had two court losses just last week.

Meta Job Cuts: Meta Platforms Inc. employees received news Wednesday of the final round of previously announced job cuts, which affected thousands of workers in the company's business departments.

Meta Platforms investors formally asked a US appeals court to revive a proposed class action accusing the Facebook parent of concealing a serious privacy breach that let a political consulting firm harvest users' personal information. The request came during oral arguments on Wednesday before the 9th US Circuit Court of Appeals in San Francisco ...

Meta’s metaverse unit recorded its largest quarterly loss that amounted to $4.3 billion (roughly Rs. 35,222 crore) between September and December 2022. Despite the losses, Mark Zuckerberg is headstrong about his strategy for Meta’s Reality Labs unit.

Snap reported on Tuesday that the firm swung to a net loss in Q4 2022 and the parent firm of popular app Snapchat expects revenue to fall by up to 10 percent in the current quarter. The company said that its business continued to be hurt by a weakening economy, increased competition from rivals and "platform policy changes".

At present, only 20 percent of Meta’s functional focus is on developing the hardware and software to support the metaverse ecosystem, Zuckerberg noted in a recent speech. Zuckerberg was speaking virtually at the New York Times DealBook Summit when he noted that his company needs to work more efficiently in order to finetune the metaverse tech on ...

Facebook’s rebranding to Meta completed a year on October 28. Sam Bankman-Fried (SBF), the CEO of the FTX crypto exchange, who is also among the biggest investors in Web3 projects, has argued that this rebranding is not fulfilling Mark Zuckerberg’s plan of churning billions.

Facebook’s parent company Meta reported that its metaverse division Reality Labs lost $3.7 billion (roughly Rs. 30,476 crore) in the third quarter of this year, bringing its accumulated losses in 2022 to $9.4 billion (roughly Rs. 77,386 crore), according to its third-quarter financial report on Wednesday.

Wall Street is losing patience over Meta boss Mark Zuckerberg's enormous and experimental bets on his metaverse project that helped drive up the company's overall costs by a fifth in the third quarter.

The top ten metaverse projects have witnessed an 80 percent downfall in the third quarter of this year. Despite the volatility, however, the interest in metaverse project has shown no signs of dwindling, a report by analytics firm DappRadar claimed recently.

In Meta’s Q2 earnings call, its chief Mark Zuckerberg announced that the company’s metaverse-focussed ‘Facebook Reality Labs’ division has reported losses of a whopping $2.81 billion (roughly Rs. 22,410 crore). Despite the financial setback, Zuckerberg has exuded confidence that in the coming years, all the trials and errors that are costin...

Meta Platforms Inc issued a gloomy forecast after recording its first ever quarterly drop in revenue on Wednesday, with recession fears and competitive pressures weighing on its digital ads sales.