The 52% fall in Q3 profits came not only from a fall in ad revenue but from the $9.4 billion lost, so far this year, by Reality Labs – its Metaverse unit.
Last year the unit lost $10 billion.
Meta’s operating margin has halved in the last two years.
Next year it expects expenses to rise 13-16% to over $100 billion.
. “There’s still a long road ahead to build the next computing platform, but we are clearly doing leading work here,@ says an undaunted Mark Zuckerberg, @this is a massive undertaking and it’s often going to take a few versions of each product before they become mainstream. But I think our work is going to be of historic importance and create the foundation for an entirely new way that we will interact with each other and blend technology into our lives, as well as a foundation for the long term of our business.”
