First, earnings per share for the fourth quarter of 2021 came in at $3.67, which missed consensus analyst estimates of $3.84. Second, for the first time ever, the number of daily active users of Facebook declined in the quarter, from 1.93 billion in the third quarter to 1.929 billion in the fourth quarter. It's a small decrease but a decrease nonetheless. Third, for the full year, Meta lost $10 billion in its Reality Labs segment - which is dedicated to transitioning the company to a metaverse-focused business. The "metaverse" is a catchall term for a theoretical network that could intertwine virtual reality, augmented reality, social media and other elements of technology. Many futurists envision the metaverse as the coming "second internet" - except we'll be able to virtually "live" within it. Is betting on the metaverse worth losing all this money? It remains to be seen... At this point, the decline in Meta's enterprise valuation since last September is astounding. |
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