After news of the last business numbers, Facebook-based company Meta’s share price surged 10% and is now trading just 24% USD, belated analyst forecasts. As previously mentioned, the company was able to generate approximately $278 billion in revenue last quarter. Compared to last year, his average increase was 2.46%, which has never been seen before.
Meta turns a profit and burns billions in VR.
The base of the quarterly report, which generated a net yield of 19.93% and a net profit of US$5,7 billion, has also been published, but Metaverse and its subsidiary Facebook are still burning billions of dollars in data and base. . in virtual reality. Therefore, he again had to record billions of dollars in losses in the Reality Lab division. The loss last quarter was substantial. VR eats up the value of his Metas gains.
Facebook is on the rise again.
Mark Zuckerberg said he was pleased with the quarterly results and seemed very pleased. In particular, the rise of Facebook has contributed, along with other social media his initiatives. Last quarter, the social network achieved his 50% increase, with the number of users reaching his 3.8 billion. In its traditional advertising business, the group recorded a significant increase of 26% compared to its first quarter 2022.
It’s been a good quarter and we’re seeing new strength in our product and business.
MD-CEO of Mark Zuckerberg.
A metabar must be provided.
In the future, it cannot be shown that Meta can bear the loss of the experiment’s subsidiary, Reality Labs, and its billions of dollars. The new virtual world of the Metaverse must sooner or later certainly show real benefits. However, VR is just a sideshow here, and a very poor part-time show as well.
Earnings per share $21,24-23,72 percent Nachables is $21,2-29,22 percent.
Meta, on the other hand, was able to maintain its financial value well above expectations. The analyst had planned a loss of $1.28,903 (earnings per share), which was $1.5 billion higher than the $1.95 price.
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