In the coming year, Facebook expects to spend more than US$10 billion on AR, VR, & related hardware, as well as developing metaverse apps & services. At the company’s quarterly earnings call on Monday, CEO Mark Zuckerberg said the company would increase investment in the area, but warned it wouldn’t see a return on that investment right away.
Facebook invests billions in metaverse efforts as ad business slows – reuters.com
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Oct 25 (Reuters) – Facebook Inc said on Monday it will start breaking out the financials for its virtual and augmented reality unit, an announcement that comes as its main advertising businesses face “significant uncertainty.” Facebook warned that Apple Inc’new privacy rules would weigh on its digital business in the current quarter, after the social media company reported quarterly revenue below market expectations.
Link: Facebook invests billions in metaverse efforts as ad business slows
via www.reuters.com
