Facebook, Instagram, and WhatsApp’s parent company Meta has confirmed a huge round of layoffs, amounting to 11,000 employees or 13% of its workforce. “I want to take accountability for these decisions and for how we got here,” CEO and cofounder Mark Zuckerberg wrote in a statement. “I know this is tough for everyone, and I’m […]
A day after weighing in with its third quarter earnings report, Meta is flailing. The company formerly known as Facebook was in trouble Thursday after uninspiring numbers and an apparent lack of faith in Mark Zuckerberg’s metaverse vision sent its shares plunging by 25%. At the time of writing, Meta was trading around $98, down […]
On today’s quarterly earnings call, Meta founder and CEO Mark Zuckerberg was on the defensive when it comes to the company’s investment in the metaverse. Once again, the company lost over $3 billion dollars to its Reality Labs division this quarter, and Meta’s net income took a big hit. Since rebranding from Facebook to Meta, […]
Earlier this year, Meta posted its first quarterly revenue decline. Once again, Meta’s financials aren’t inspiring much faith in its investors this quarter. Meta’s revenue declined 4% year over year to hit $27.7 billion; but Meta CFO David Wehner pointed out on the earnings call today that some of this decline is owed to inflation. […]
