Everyone was shocked and somewhat incredulous when Mark Zuckerberg announced its ambitious plans to rebrand its parent company to create Meta. Facebook didn’t cease to exist, but with this twist it signaled its intention to basically bring Ready Player One into the real world with the Metaverse.
Almost two years have passed since the time of this controversial revelation and a lot has happened in the world and in the industry of the Information Technology (IT) since then. However, it is most likely that the CEO of this company would have estimated that he had a better outlook for everything at this point.
And it is that Meta has just published the most recent results of its financial statements corresponding to the first quarter of this year 2023. And the reality is that they are not at all flattering, on the contrary. The losses are considerable and more than alarming.
Since during all this time other platforms have managed to downplay what was the most famous social network in the world, at the same time that Artificial Intelligence systems have begun to set the tone for the future of the sector.
With which the Virtual Reality viewers have been relegated to a very secondary plant, and that has been noted in these results.
How Facebook, Meta and Mark Zuckerberg Lost Nearly $4 Billion
Due to the nature of its regulation, due to its active participation in the stock market, Meta is obliged to publish its quarterly financial statements for the knowledge of the general public and its investors.
This is how on their official website they have published the financial results for this first period of the year 2023, revealing that they had considerable losses due to USD $3,992 million.
It is therefore a more than considerable amount of money and that would have been registered solely and exclusively in Reality Labs, the Meta division in charge of developing all Virtual Reality (VR) and Augmented Reality (AR) technologies.
The “good news” is that the company would have registered Revenues of $339 million in that division. At the same time, the managers have openly declared that they will maintain their support for this project, which in the long term would represent the future of the community.
The truth is that doubts continue to accumulate, at the same time that Meta, Facebook and Mark Zuckerberg keep making operational adjustments, where staff cuts have become increasingly common.