4 ms·
Their income and operating margin has almost halved, compared to 2021. Their free cash flow is 1/50th of the previous few quarters. Those are truly horrible res
by jryhjythtr 4y ago
Their income and operating margin has almost halved, compared to 2021. Their free cash flow is 1/50th of the previous few quarters. Those are truly horrible results.
FB was a money printing machine, but they trashed it.
- School-Cotton 4y agoApple trashed it, not FB itself.
- jryhjythtr 4y agoFB started sinking money into the Metaverse long before that.
- matwood 4y agoNot at the same scale. It's been accelerating and continues to accelerate. From another announcement today: > "We continue to anticipate that Reality Labs operating losses in 2023 will grow significantly year-over-year," https://www.marketwatch.com/story/meta-lowers-expense-forecast-for-next-year-as-it-announces-broad-layoffs-2022-11-09 https://www.marketwatch.com/story/meta-lowers-expense-foreca... Everyone wants to dance on Meta's grave, but it's way too soon. Yes, the Apple change gave them a top line haircut, but if the RL spend is excluded, they are making a ton of money. I'd also argue that the real headwinds are the general economy and TikTok.
- jryhjythtr 4y ago>the real headwinds are the general economy and TikTok Right, and not Apple's actions.
- roflyear 4y agoThey are still making insane profits.