![]() ![]() Meta is sharply limiting corporate costs thanks to a spending review that resulted in substantial layoffs and savings of $4.2 billion. Zuckerberg’s company on the Stock Exchange touches €136.14 per share, in slight decline (-0.015%). Whether because it had already been predicted by the market or because of a decidedly unexpected earnings per share, the quarterly report was well received and today Meta is not lagging in trading. The communications company’s earnings per share came in at 8.13%. Meta Platforms, parent company of Facebook, Instagram and WhatsApp unveiled a tearful quarterly report except for earnings per share. “The positive market reaction reflects traders’ relief that there hasn’t been a hawkish reaction to the recent easing in financial conditions.” ![]() Semiconductors are becoming available again in large quantities, which meant that the technology sector was able to breathe a sigh of relief. In the afterhours, Meta was in bull trend because of the earnings per share figure that far exceeded analysts’ expectations despite what has been stated in the past.Īnother good news was the announcement of the $40 billion share buyback program. The technology sector in the stock market benefited from this situation before the close of yesterday’s session. In this context it is worth noting Treasury yields are down sharply. ![]() Investments are six times as much as what is collected, and this definitely needs to change.Īccording to Predictions, Reality Labs lost a whopping $4.36 billion in the last quarter. The division that deals with the development of the metaverse seems to be in sharp decline. It notes that although it generated $2.16 billion last year ($727 million in Q4), profits are down sharply from 2021 ($2.27 billion). Reality Labs comes out of the earnings report with broken bones. The Metaverse is now by all accounts going to be the agora of the future but for now it is proving to be a black hole absorbing the investments of Zuckerberg and co. Mark Zuckerberg, the creator of Facebook, believed early on that the Metaverse was the company’s future and invested large sums in the project, which, however, are costing investors dearly as they are still not seeing the hoped-for return.Ī year ago Facebook changed its name to Meta also visually charting the future of the company. Reality Labs, Meta’s engineering division of the Metaverse brought home an operating loss of $4.28 billion in Q4. Mark Zuckerberg’s Metaverse (Meta) lost $13.7 billion last year is what emerged from CNBC’s breaking news about the company’s accounts. “JUST IN: $META (Facebook) metaverse division lost $13.7 billion in 2022.” Watcher Guru, a vigilant observer of the financial world, tweeted yesterday about Zuckerberg’s flop with these words: He publicly ignored the whistle-blower’s disclosures for weeks, permitting Clegg to take those slings and arrows.The parent company of the social networks, Meta (Facebook) has suffered a loss of $13.7 billion due to its investment in the metaverse, and this is making investors impatient. Zuckerberg has grown noticeably tired of apologizing for Facebook’s noxious side effects and has spent much of the past year in his Hawaii compound. Yes, it is handing off much of Zuckerberg’s responsibility around policy, relieving him of uncomfortable duties like answering to lawmakers and allowing him to focus on building and monetizing the immersive world he wants us all to one day inhabit. (Facebook) to be steered by a sophisticated public-policy savant.īut this announcement is actually doing two things. The new story: Zuckerberg is relinquishing control and allowing Meta Platforms Inc. Now Mark Zuckerberg has announced that his top policy executive, Nick Clegg, is being promoted and taking over the tough job of navigating an upcoming legal and regulatory minefield. After a whistle-blower revealed astonishing harm caused by the company’s products to the mental health of teens and others across the world, the company changed its name and got everyone talking about the metaverse instead. Facebook has always been good at telling a story. ![]()
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