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Meta’s Metaverse Business Loses Over $3.5 Billion in Q3 2022

Facebook-owner Meta recorded a loss of over $3.5bn in the third quarter of this year, as the company continues to burn cash on its new Metaverse-related initiative. Overall, Meta saw its revenue fall 4% in the third quar...

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Meta’s Metaverse Business Loses Over $3.5 Billion in Q3 2022
Facebook-owner Meta recorded a loss of over $3.5bn in the third quarter of this year, as the company continues to burn cash on its new Metaverse-related initiative.
Overall, Meta saw its revenue fall 4% in the third quarter, while expenses rose by 19% year-over-year to $22.1bn. Compared to the previous year, operating income fell by 46% to $5.66bn, while overall net income was down 52% to $4.4bn for the quarter....
Read More: Meta’s Metaverse Business Loses Over $3.5 Billion in Q3 2022

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