News for hackers. Stuff that matters.

A comment on Meta lays off 11,000 people. Parent comment

Re:Meta lays off 11,000 people by jryhjythtr on Wednesday November 09, 2022 @07:22AM (#33530540)
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.

[ Parent | on HN ]
Re:Meta lays off 11,000 people by umanwizard on Wednesday November 09, 2022 @07:45AM (#33530756)
Apple trashed it, not FB itself.
[ Parent | on HN ]
Re:Meta lays off 11,000 people by jryhjythtr on Wednesday November 09, 2022 @09:16AM (#33531872)
FB started sinking money into the Metaverse long before that.
[ Parent | on HN ]
Re:Meta lays off 11,000 people by matwood on Wednesday November 09, 2022 @10:05AM (#33532575)
Not 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-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.

[ Parent | on HN ]
Re:Meta lays off 11,000 people by jryhjythtr on Wednesday November 09, 2022 @10:15AM (#33532741)
>the real headwinds are the general economy and TikTok

Right, and not Apple's actions.

[ Parent | on HN ]
Re:Meta lays off 11,000 people by roflyear on Wednesday November 09, 2022 @09:27AM (#33532045)
They are still making insane profits.
[ Parent | on HN ]