Facebook, starting from next quarter, will separately disclose the financial results of Facebook Reality Labs, which until now were integrated with those of the other apps of the group. The Labs deal with Facebook’s most innovative projects, such as the ‘metaverse’, the new platform on which the company is aiming for the future. “This will provide investors with additional visibility into the investments we are making in augmented and virtual reality,” writes Mark Zuckerberg in a post. “In 2021, we expect these investments to reduce our total operating profit by approximately $ 10 billion and I expect the figure to grow further in the coming years. This is a major investment area for us and an important part of our strategy. “. In addition to the creation of the metaverse, the division already produces some devices, such as the Oculus Quest headset and the Portal line of speakers.
In general, Facebook’s revenues stood at $ 29.01 billion in the latest quarterly survey, compared to $ 21.47 billion in the same period of 2020. A figure lower than the $ 29.57 billion expected by analysts . Facebook also announced that it expects revenue of between $ 31.5 and $ 34 billion in the fourth quarter, compared with an estimated $ 34.84 billion by the market. Despite the difficulties, the group founded and led by Mark Zuckerberg saw profits climb 17% to $ 9.1 billion. A boost to earnings could come from Reels, the TikTok-style clips that, according to Zuckerberg, are the main growth engine for Instagram advertising. “The Reels are incredibly fun and I think there is huge potential ahead. We expect the segment to continue to grow and I am optimistic that they will become as important to our products as the Stories,” concluded the CEO.
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