Facebook-owner Meta recorded a loss of over $3.5bn in the third quarter of this year, as the company continues to burn cash on its new metaverse-related initiative. Overall, Meta saw its revenue fall 4% in the third quarter, while expenses rose by 19% year-over-year to $22.1bn. Compared to the previous year, operating income fell by 46% to $5.66bn, while overall net income was down 52% to $4.4bn for the quarter....
Facebook-owner Meta recorded a loss of over $3.5bn in the third quarter of this year, as the company continues to burn cash on its new metaverse-related initiative. Overall, Meta saw its revenue fall 4% in the third quarter, while expenses rose by 19% year-over-year to $22.1bn. Compared to the previous year, operating income fell by 46% to $5.66bn, while overall net income was down 52% to $4.4bn for the quarter....
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