We all know Facebook is the oldest and largest platform in the world, and other than that, it’s the biggest source for making money online. According to information from Endadget, Facebook has now reached 2 billion daily users, which increased after the implementation of some additions from the company, and it has helped the company to grow rapidly in its revenues.
Despite the fact that Facebook is embroiled in a slew of controversies involving cyber security and privacy invasion, Companies like Meta and Google make a lot of money by collecting and selling the data of their users.
Despite these rumors, the platform added 16 million users in the fourth quarter of 2022. It happened at a time when there was high chaos on Twitter.
When we observe these matrices and figures from the company in Q4 2020, Meta is continuously posting its earnings records, which clearly show that the website is growing massively in terms of the number of its daily users.
There has been a crawl in daily users since Q4 2020. Over the last two years, the company has grown by 8% to 1.845 billion users. This milestone marks 2 billion daily users of the platform, which was also recently hit by WhatsApp.
The statistics of the economy keep rising and falling. Despite a significant increase in users, the company is still losing on this front. In terms of stock prices, 2022 remained Meta’s worst year. On the other hand, in terms of revenue, there was a rise and fall too.
Meta earned more than $32.2 billion, a 4% decrease from the previous year but higher than the company’s expectations. Although it’s not even good if it’s not bad,
VR and AR are costing the company the majority of its revenue. As the company is investing a lot of time, energy, and money in Metaverse technology, Even with all investment firms, the concept isn’t that new.
The firm leading the company’s AR and VR initiatives is Reality Labs, which revealed a $4.3 billion loss for the fourth quarter of 2022. That’s a lot, but the $14 it lost over the course of the entire year dwarfs it.
But Mark Zuckerberg is still dedicated to seeing this technology through to completion. If it really is the next technological frontier, only time will tell.
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