What Meta, By Mark Zuckerberg, Invests To Achieve His Metaverse

Meta is one of the most open American technology and social media conglomerates in the world. The business group has apps like Instagram, WhatsApp, Messenger, and Oculus. And just as this giant is recognized worldwide, their rate of investments and losses turns out to be just as abysmal.

According to the company report, The investment allocated to research and development this year was 5,104 million dollars (21 billion Colombian pesos), more than in the first half of 2021. That’s not counting the money from marketing, sales and administrative costs.

Facebook announced this Wednesday net profits between January and June of 14,152 million dollars, more than 59 billion Colombian pesos, which represents a fall of 29% compared to the same period of the previous year.

In the first half of the year, it entered 56,729 million dollars, about 240 billion pesos, slightly above the turnover for the same period in 2021, while its operating expenses skyrocketed, which explains the drop in profits.

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Investments for the Metaverse

The increase in expenses was led by investment in research and development, an item to which the company allocated 5,104 million dollars more than in the first half of 2021and was followed by marketing, sales and administrative costs.

Between January and June, Meta investors pocketed 5.21 dollars per title, below 7 dollars (26 thousand Colombian pesos) of the first half of last year.

Last June, 2,880 million people connected daily to one of the Meta applications, which represents more than a third of humanitywhile 3.65 billion did so at least once a month.

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Logo of Meta, parent company of Facebook.

Both figures represent a 4% year-on-year user growth for the company led by Mark Zuckerberg.

Throughout the second quarter of 2022, Meta apps served 15% more ads (the company’s main source of income), but the average price of these fell 14% year over year.

“We are dedicating more and more energy and we are focusing on our key priorities as a company to achieve medium and long-term opportunities for Meta and its users,” Zuckerberg said when presenting the accounts.

Meta results were worse than expected by Wall Street analystsso its shares were down 3.63% to $163.20 per share in electronic trading after the New York markets closed.

Confirmed: Facebook changes its name and will now be called ‘Meta’Confirmed: Facebook changes its name and will now be called ‘Meta’.