(CNBC) Meta CEO Mark Zuckerberg reiterated his commitment to spending billions of dollars developing the metaverse amid investor concern about the health of his company’s online advertising business. On a call with analysts as part of Meta’s third-quarter earnings report, Zuckerberg and other Meta executives fielded a number of questions from analysts who sounded increasingly frustrated with the company’s rising costs and expenses, which jumped 19% year over year to $22.1 billion during the quarter.
Meta plans to lose even more money building the metaverse while its ads business shrinks
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