Meta shares have dropped 24% to the lowest since 2016
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In the first three quarters, Meta's Reality Labs division, which houses its VR headsets, lost more than $9 billion
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On Wednesday, Facebook's parent company reported quarterly revenue of $27.7 billion.
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A drop of more than 4% year on year and its second consecutive quarterly drop Profit dropped 52% to $4.4 billion
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It anticipates fourth-quarter revenue of $30 billion to $32.5 billion
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Analysts predicted $32.2 billion in sales
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Mark Zuckerberg, CEO of Meta, clarified his commitment to investing billions of dollars in the development of the Metaverse
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Meta shares have fallen by more than 61% since the beginning of the year.