TECH CRUNCH - Meta beat revenue expectations and reported an increase in YoY revenue for the first time in 3 quarters. However, this positive development comes amidst harsh restructuring that resulted in the elimination of ~10K jobs this year. Despite losses in its metaverse investments, Zuckerberg stated that AI works in tandem with the metaverse and is a technology that Meta will continue to focus on. Reality Labs, Meta's department for VR and AR, lost ~$4B this quarter, while Meta's vision for AR glasses involves an AI-centric OS.
by Amanda Silberling
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