TELLS STAFF FOCUS PRODUCTS META STOCK FREE

Mr Zuckerberg told investors last month that he still aims over the next several years to generate enough income growth from legacy apps Facebook, Instagram and WhatsApp to fund investments in Reality Labs, while continuing to grow profits overall. The unit lost US$10.2 billion in 2021 and another US$3 billion in the first quarter this year. The company changed its name in October to reflect its metaverse aims and has hired extensively to staff Reality Labs, adding more than 13,000 employees last year and nearly 6,000 in the first quarter this year.Īt the same time, Mr Zuckerberg has warned that it may take about a decade for the metaverse bets to pay off, and Reality Labs has bled cash. It certainly hasn’t held up as some of its.

TELLS STAFF FOCUS PRODUCTS META STOCK FREE

Those investments are aimed at positioning Meta as a gateway to the metaverse, a universe of immersive, shared, interconnected digital worlds which Mr Zuckerberg has said he believes will be the successor to the mobile Internet. 2:31 PM EDT Meta ( META) - Get Free Report Platforms (formerly Facebook) stock has been hit, down roughly 60 from its all-time high.

The unit is also building a mixed reality headset with face and eye tracking called Project Cambria, which Mr Zuckerberg previewed in a post on his Facebook page on Wednesday. The 18-year-old tech giant has invested heavily in Reality Labs, which grew out of its Oculus virtual reality business and now encompasses work on augmented reality, smart glasses, Portal video-calling devices and enterprise tech solutions. Facebook parent company Meta last week told staff it would stop or slow the pace of adding midlevel or senior roles, while Robinhood is cutting about 9 of its workforce.

Tells staff focus products meta stock