Metas Revenue Might Have Surged In Recent Q1 Report But Things Are Thick For Its Metaverse ⋆ ZyCrypto - BitcoinEthereumNews.com
For the second time since its rebrand, Meta posted its Q1 na kita Wednesday, eliciting mixed reactions from investors. But first, the company recorded an increase in Daily Active Users (DAUs) at 1.96B users up from 1.92B users in the last quarter, sending a sigh of relief to investors who have watched Metas stock dump by over 55% since September. The company also recorded a 7 percent rise in revenue to $29.9 billion, albeit being the slowest growth rate since the company went public 18 years ago. However, Meta‘s family of applications- Whatsapp, Messenger, Facebook, and Instagram- which have been the company’s greatest source of revenue weren‘t the stars of the show. CEO Mark Zuckerberg, dialed back the metaverse rhetoric, echoing his belief in the metaverse becoming the company’s Jewel in the future despite the project greatly slowing Metas stock growth. Last quarter, the company‘s Reality Labs Division, which is tasked with building virtual and augmented reality infrastructure from Meta brought in $695 million, exceeding previous estimates of 683 million by analysts. However, there is a catch. In Q1, Metas reality labs were operating at $2.96 Billion despite generating the reported income. Last year, the division lost over $10 billion, a picture that