The news comes just months after the company's first ever round of mass layoffs and a rocky 2022 in which Mark Zuckerberg doubled down on the metaverse.
. Somehow, between last year’s third and fourth quarters, that rate of VR spending increased even more. The company lost an additional $4.28 billion on its Reality Labs in the last three months of 2022, compared with about $3.67 billionBonus: though the spending on Meta’s metaverse projects, includingIn 2023, the company expects its total expenses to be lower than previously forecast, as noted in the Wednesday report.
In efforts to calm investors in November, Zuckerberg said that WhatsApp and Messenger would be the company’s for boosting income. Yet the company’s meh app revenue suggests that that money machine hasn’t fully materialized yet.But hey, to be fair, let’s end on some good news for Meta. The money the company had/has to pay out to its laid off employees hasn’t set it back too much.
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