Revenue has slowed from the Apple change, but the drop in Q3 profits can almost entirely be pinned on RL as staff and other investments has accelerated.
> company’s rising costs and expenses, which jumped 19% year over year to $22.1 billion during the quarter.
> Meta’s Reality Labs unit, which is responsible for developing the virtual reality and related augmented reality technology that underpins the yet-to-be built metaverse, has lost $9.4 billion so far in 2022.
The effects from the Apple changes are mostly in the rear view mirror at this point. You could attributed a 4% revenue hit to them, but those can also be attributed to a general slowing economy.
https://www.cnbc.com/2022/10/26/meta-plans-to-lose-even-more...
Re:Meta lays off 11,000 people
by colinmhayes on Wednesday November 09, 2022 @12:57PM
(#33535359)
Earnings down 4% in bad macro conditions for advertising and compared to a pandemic when people spent more time on the internet. I don't think facebook revenue is going anywhere soon, a decade from now though who knows.
This has severely hurt Meta's ad revenue, i.e., earnings.
The metaverse stuff is a bad bet, you are correct, but is not likely impacting earnings in any significant way.