[p0pcult]

No, earnings have been going down because Apple fucked Meta with Apple's policy change on asking for consent to be tracked. Meta has even stated as much in various earnings calls since this happened.

This has severely hurt Meta's ad revenue, i.e., earnings.

The metaverse stuff is a bad bet, you are correct, but is not likely impacting earnings in any significant way.

[matwood]

Revenue has slowed from the Apple change, but the drop in Q3 profits can almost entirely be pinned on RL as staff and other investments has accelerated.

> company’s rising costs and expenses, which jumped 19% year over year to $22.1 billion during the quarter.

> Meta’s Reality Labs unit, which is responsible for developing the virtual reality and related augmented reality technology that underpins the yet-to-be built metaverse, has lost $9.4 billion so far in 2022.

The effects from the Apple changes are mostly in the rear view mirror at this point. You could attributed a 4% revenue hit to them, but those can also be attributed to a general slowing economy.

https://www.cnbc.com/2022/10/26/meta-plans-to-lose-even-more...

[colinmhayes]

Earnings down 4% in bad macro conditions for advertising and compared to a pandemic when people spent more time on the internet. I don't think facebook revenue is going anywhere soon, a decade from now though who knows.

[p0pcult]

https://www.cnbc.com/2022/02/02/facebook-says-apple-ios-priv...