Facebook reported Monday Revenue of $ 29 billion during the three months ended September, 33% more than the same period last year. The company posted nearly $ 9.2 billion in profits, 17% more than the previous year.
Still, Facebook is no stranger to public relations crises. In most cases, Facebook’s business has continued to move at a healthy pace despite protests from regulators and the public.
On Monday, Facebook warned that iOS 14 changes could create “continued headwinds” in the fourth quarter of 2021.
While much of the world spent the day focusing on Facebook’s actual damage, the company hinted at investors in the report that it wants them to look forward, not backward. Starting in the fourth quarter, the company plans to break down Facebook Reality Labs, its division dedicated to augmented and virtual reality services, as a separate reporting segment from its app family, which includes Instagram, WhatsApp and the network. homonymous social of Facebook.
Chief Financial Officer Dave Wehner said Facebook is investing so much in this new division that it will reduce “our overall operating profit by 2021 by approximately $ 10 billion.”
In a statement with the results, Facebook CEO and co-founder Mark Zuckerberg also focused on the following: “I’m excited about our roadmap, especially when it comes to creators, commerce and helping build the metavers “.
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