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.
FB was a money printing machine, but they trashed it.
> "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.
Right, and not Apple's actions.