As Meta flounders, Zuckerberg dreams of neural interfaces for Metaverse
Revenue is down four percent from $29 billion in Q3 2021 to $27.7 billion this quarter. This, Meta says, is down to foreign exchange rates fluctuating and had they not been, revenue would’ve been $1.79 billion higher.
While Meta served 17 percent more advertising across its family of apps, the revenue generated was 18 percent lower when compared to the same quarter in 2021. These exchange rate fluctuations are expected to persist into the next quarter and represent a headwind of approximately 7 percent.Of course, a Meta financial briefing wouldn’t be complete without address the $10 billion elephant in the room, the Metaverse. Sorry we mean Meta’s Metaverse.
Something about giving a massive social media company – which makes its money on advertising – access to your brain, feels like a bad idea. If anything, this makes us even more hesitant to use Meta’s Metaverse. Not that we can affordThe Zuck also spent time explaining that we shouldn’t be so quick to mock his creations.
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