Metaverse business lost 2.9 billion US dollars in Q1, Zuckerberg is still full of confidence
This article is from The Block by Anushree Dave
Summary: Meta's metaverse-focused business Reality Labs reported a loss of $2.9 billion in the first quarter of 2022. Zuckerberg said a near-term focus will be helping creators make money on the social virtual reality platform Horizon Worlds.
Meta's business, Reality Labs, is not yet profitable, and focuses on building a virtual world where users can socialize, work and play. But Meta Chief Executive Mark Zuckerberg said on Wednesday's after-hours earnings call that it was laying the groundwork for an "exciting 2030s."
Reality Labs reported a loss of $2.9 billion in the first quarter of 2022. Zuckerberg admits, "I know it's expensive to build, and it's something that's never been built before. It's a new paradigm for computing and social connection."
"So, From a financial standpoint, our goal over the next few years is to generate sufficient operating income growth from the Family of Apps to fund the growth of Reality Labs' investments, while also improving our overall profitability." : The Meta family of apps includes Facebook, Instagram, Messenger, WhatsApp, and more.
Zuckerberg said a near-term focus will be on building better hardware and the company's latest social virtual reality product, Horizon Worlds, to help creators make money. Meta sparked controversy earlier this month when it said it would take nearly half of the revenue from any item sold on Horizon as a transaction fee.
“Another focus of Horizon is to develop the metaverse economy and help creators make a living in the metaverse,” Zuckerberg said. “We want to do more monetization than other companies in this space. Well, we hope this will be a sustainable advantage as our platform evolves."
On the hardware side, the company is working on a virtual reality headset. It plans to release a higher-end VR headset later this year, codenamed Project Cambria. According to Zuckerberg, the headset will be specifically designed for work use cases and eventually "replace your laptop and work gear." The hardware device will also feature eye-tracking and face-tracking, so users can make good eye contact in the virtual world.
Earlier this year, Meta Platforms lost more than $250 billion in market value after a disappointing fourth- and first-quarter outlook. Shares plunged about 26% after the company reported that it lost 1 million daily active users as competition from short-video app TikTok intensified.
The company's growth slowed in 2022 as privacy rule changes to Apple's iOS operating system made it difficult to serve ads to users and to measure how well those ads ran on the platform.
Meta shares soared in the hours after the earnings report, rising 18.37% after hours.
source: Metaverse business lost 2.9 billion US dollars in Q1, Zuckerberg is still full of confidence
https://mwebp12.plala.or.jp/p/do/redirect?url=https://zaker.tv/article/blockchain/17756.html
https://ipv4.google.com/url?q=https://zaker.tv/article/blockchain/17756.html
https://webhosting-wmd.hr/index?URL=https://zaker.tv/article/blockchain/17756.html
https://www.chatbots.org/r/?i=8453&s=buy_paper&u=https://zaker.tv/article/blockchain/17756.html
评论
发表评论