{"id":30402,"date":"2023-04-27T22:23:19","date_gmt":"2023-04-27T22:23:19","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/27\/meta-beats-revenue-expectations-remains-committed-to-metaverse\/"},"modified":"2023-04-27T22:23:20","modified_gmt":"2023-04-27T22:23:20","slug":"meta-beats-revenue-expectations-remains-committed-to-metaverse","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/27\/meta-beats-revenue-expectations-remains-committed-to-metaverse\/","title":{"rendered":"Meta beats revenue expectations, remains committed to metaverse"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/26\/meta-beats-revenue-expectations-remains-committed-to-metaverse\/<\/a><\/br>
\nMeta beats revenue expectations, remains committed to metaverse<\/br>
\n2023-04-27 22:23:19<\/br><\/p>\n

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Things are looking up for Meta. The company beat revenue expectations, reporting an increase in year-over-year revenue for the first time in three quarters. But this ray of light for the company formerly known as Facebook comes amid harsh restructuring, resulting in more than 10,000<\/a>\u00a0jobs eliminated this year.<\/p>\n

Tech moves through buzzwords like clockwork. Though the metaverse was all the rage when Meta changed its name \u2014 a sort of recursive and self-referential generation of hype \u2014 now, it\u2019s all about AI. Despite big losses in its metaverse investments, CEO Mark Zuckerberg made it a point to tell investors that he is not making a u-turn into the AI lane. Rather, he sees AI as technology that works in tandem with the metaverse.<\/p>\n

\u201cA narrative has developed that we\u2019re somehow moving away from focusing on the metaverse vision, so I just want to say up front that that\u2019s not accurate,\u201d Zuckerberg said. \u201cWe\u2019ve been focusing on AI and the metaverse, and we will continue to.\u201d<\/p>\n

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Image Credits:<\/strong> TechCrunch<\/p>\n<\/div>\n

Meta isn\u2019t expecting Reality Labs to make money yet, but investors have voiced concerns that this hefty investment might not pay off<\/a>. Zuckerberg\u2019s interest in ongoing AI development might quiet some of those worries \u2014 Meta\u2019s stock price has increased, for one \u2014 but the metaverse is still bleeding money.<\/p>\n

Reality Labs, Meta\u2019s department for VR and AR, lost nearly $4 billion this quarter. In all of last year, it lost $13.7 billion<\/a>. Zuckerberg pointed out, though, that VR and AR technology do in fact involve AI.<\/p>\n

\u201cOur vision for AR glasses involves an AI-centric operating system that we think will be the basis for the next generation of computing,\u201d Zuckerberg said on the call.<\/p>\n

When it comes to its metaverse vision, Zuckerberg said that half of daily active users on its Quest headsets spend more than one hour per day on their device. Meta did not disclose just how many people are actually using Quest headsets on a daily basis.<\/p>\n

\u201cBuilding the metaverse is a long-term project, but the rationale for it remains the same, and we remain committed to it,\u201d Zuckerberg said.<\/p>\n<\/p><\/div>\n

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Science, Tech, Technology<\/br>
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\nSource:https:\/\/techcrunch.com\/2023\/04\/26\/meta-beats-revenue-expectations-remains-committed-to-metaverse\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/26\/meta-beats-revenue-expectations-remains-committed-to-metaverse\/ Meta beats revenue expectations, remains committed to metaverse 2023-04-27 22:23:19 Things are looking up for Meta. The company beat revenue expectations, reporting an increase in year-over-year revenue for the first time in three quarters. But this ray of light for the company formerly known as Facebook comes amid harsh restructuring, resulting in more than […]<\/p>\n","protected":false},"author":1,"featured_media":30403,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-30402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nMeta beats revenue expectations, remains committed to metaverse - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/27\/meta-beats-revenue-expectations-remains-committed-to-metaverse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meta beats revenue expectations, remains committed to metaverse - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/26\/meta-beats-revenue-expectations-remains-committed-to-metaverse\/ Meta beats revenue expectations, remains committed to metaverse 2023-04-27 22:23:19 Things are looking up for Meta. 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