Facebook’s Meta Racks Up Record Losses
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Facebook’s Meta Racks Up Record Losses
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Reality Labs, the division of Facebook (now known as Meta) spearheading the development of virtual and augmented reality technologies for the metaverse, has reported a staggering loss of $3.7 billion in the second quarter, bringing its total losses to over $21 billion since the start of the previous year.
CNBC reports that the Facebook division in charge of creating virtual and augmented reality technologies for the metaverse, Reality Labs, has announced a startling operating loss of $3.7 billion for the second quarter, increasing is losses to nearly $21 billion since the beginning of 2022.
Reality Labs, despite its ambitious vision for the future, has been grappling with significant financial challenges. The unit’s second-quarter sales stood at $276 million, marking a decline from the first quarter’s revenue of $339 million. Despite the metaverse losses, Facebook’s overall financial health appears to be on the mend. The company’s shares saw an uptick of around five percent following an 11 percent surge in revenue, primarily driven by a resurgence in advertising and an optimistic sales forecast for the upcoming third quarter. Despite the losses incurred by Reality Labs, Facebook remains a dominant player in the advertising industry.
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What do you attribute these losses to?
What are reality labs?
This verse just came to mind, a good reminder
PROVERBS 24:17 Don’t rejoice when your enemies fall; don’t be happy when they stumble.
18 For the LORD will be displeased with you and will turn his anger away from them.
Father keep our hearts and minds pure when we read or hear this type of news so that we do not displease you or cause you to turn your anger from those who need your judgment.
Father we search your word for answers and promises which we can add to our spiritual arsenal in faith knowing that you do honor your word, and in hope that you will set your glory among the heathen and that they they will see your judgments, and learn righteousness. Catch them in the nets they laid secretly. Terrify them with your signs of the heavens and capture their hearts with your promise of love and mercy to all who turn to you in repentance. Reveal prayer and scripture strategies to your intecessors to pray that your will be done in all the earth as it is in heaven, that the all may see your glory and kearn righteousness. Thank you for hearing and answering our prayers.
PSALM 105:O descendants of Abraham his servant, O sons of Jacob, his chosen ones. He is the LORD our God; his judgments are in all the earth.
ISAIAH 26:With my soul have I desired thee in the night; yea, with my spirit within me will I seek thee early: for when thy judgments are in the earth, the inhabitants of the world will learn righteousness.
Psalm 9:15 The nations have sunk down in the pit which they have made; In the net which they hid, their own foot has been caught
Ezekiel 39:21 And I will set my glory among the heathen, and all the heathen shall see my judgment that I have executed, and my hand that I have laid upon them.
PSALM 110:He shall judge among the heathen… he shall wound the heads over many countries.
JEREMIAH 10:2 Thus says the Lord,“Do not learn the way of the nations, And do not be terrified by the signs of the heavens Although the nations are terrified by them
Jesus Christ, please provide disconnections with Facebook and Meta. These social media corporations tend to be very evil and wicked for years and especially moving forward. They cause confusion, hate and anger that are all calculated by the forces of Satan. This country so desperately needs the TRUTH! Cast our eyes on you Lord God ✨️!!!
Father, tear down all false “reality’ technology! Hold back any forces that choose to set themselves up as false gods… Open the eyes of the blind!
Lord God I pray that you remove all evil from this state, this nation and this world. We are in your hands and trust that what you do is right, just and true! I am grateful to know you as my Lord and Savior and pray that all come to the glory of God. In Jesus precious name my request is made known. Amen and amen!
Lord God of communication, thank you for awakening people to the darkness in these godless attempts to control our freedoms!
Let freedom reign!
I want Facebook should be change better, not meta. I am unhappy they twisted meta changed new rule for no free speech and stricter rules their spy eyes on us. Awful group evils still work on our Facebook. I don’t like meta. Because of my some group friends lock up attachment pictures information me.