Business Maverick: Meta Plummets 25% as Zuckerberg’s Plea for ‘Patience’ Falls Flat

On a call Wednesday after giving a disappointing revenue outlook, Zuckerberg sought to justify Meta’s ballooning costs to fund its version of virtual reality, the metaverse, as well as the artificial intelligence fueling major changes to its social networks.

“I think we’re going to resolve each of these things over different periods of time,” Zuckerberg said. “And I appreciate the patience and I think that those who are patient and invest with us will end up being rewarded.”It’s proving to be a hard sell when the company expects its already-falling revenue to be less than analysts expected, and costs to be more. On Wednesday, Meta said third-quarter revenue declined 4.

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Facebook’s Meta faces bleak holiday quarter, shares dive - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Facebook parent Meta Platforms Inc on Wednesday forecast a weak holiday quarter and significantly more losses from Metaverse investments next year, sending shares down 14%.
Fonte: SABCNews - 🏆 37. / 51 Consulte Mais informação »