Project of Metaverse lost almost $2.8 billion » Crypto Update Daily News, Bitcoin and Latest Crypto News

Yesterday, during the second quarter of the year 2022 where the financial results of Meta were published. Also, among various striking figures that are certainly loss of $2.8 billion for the division of metaverse.  However, the Performance is quite down, where losses enhances the cost and thereby impacting the amount of $ 2.8 billion. The revenues of Reality Labs for just $452 million in second quarter, down with almost $695 million in initial quarter. Remember, when it gets post the amount of loss for $2.9 billion.

Hence, in initial six months the cumulative loss is almost $5.7 billion. On the other hand, the stock has reacted quite well, both for the reason that entire tech sector raises significantly. As these are quite disappointing figures so it probably predicted in last few days.

Inspite of the fact that it posted a wonderful+6.5%, it lost almost 13% in last seven days. This is also quite much possible that the investors are now expecting worse data. Moreover, they also breathed a kind of sigh related relief to check that the actual data is not really bad as they feared.

Although, the Meta shares not yet lost much during last month, also the value has even fallen both in last consecutive three months. Particularly from beginning of this year, with the total loss of above 50% in seven months.

At the same time, latest data also reveal that Facebook and the original social network of the company has lost almost 6 million of daily active users. It also confirms that 20 million of the average active users from 2021, with such kind of decline that continue in second quarter of the year 2022.

Again, Meta has not actually gotten off from ground. In the meanwhile, FTC has even sued Meta for preventing from owning complete Metaverse.

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