"We had a good quarter as our community and business continue to grow. We've made a lot of progress on our vision for advancing AI and the metaverse," company CEO Mark Zuckerberg said during the call. The company said it was also issuing its first-ever dividend.
Meta has sustained over $20 billion in losses since 2021 due to its metaverse pivot, though Zuckerberg said he remains committed to the idea. Overall, Meta's metaverse platforms have failed to capture the market's attention meaningfully, pushing the stock down nearly 60% throughout 2022.
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