Facebook (META) Reality Labs lost $3.99 billion on $339 million of revenue in Q1 2023
Meta's Reality Labs division continues to be one of the largest cash sinks for the company in its latest fiscal year.
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Facebook (META) reports 2.99 billion monthly active users (MAUs) in Q1 2023
Nearly 3 billion active users were reported in Facebook's results for Q1 2023.
Facebook (META) forecasts Q2 2023 revenues above analyst expectations
Following a beat on the current fiscal quarter revenue and earnings-per-share, Meta raised its revenue guidance for Q2 2023.
Meta announces 10,000 additional layoffs in restructuring plans
The company shared restructuring plans as part of its 'Year of Efficiency' which includes additional layoffs and reduced hiring rates.
Facebook (META) allegedly planning further layoffs as early as this week
Even after a mass layoff late in 2022, thousands of further jobs at the Meta company may be on the line this week as the company continues to cut costs.
Facebook (META) currently losing money on Reels despite the feature's popularity
Mark Zuckerberg revealed that while Reels is a popular feature, the company needs to improve its 'monetization efficiency' to better capitalize on its popularity.
Facebook (META) Q4 2022 earnings results beat revenue expectations
It would seem that Meta was able to put up winning numbers when it came to revenue expectations for its Q4 2022 earnings results.
Facebook (META) to lay off 11,000, including Reality Labs employees
In a letter released by Mark Zuckerberg, the CEO said the cuts were because 'revenue outlook is lower' and a push to operate more efficiently.
