Tech Insider
Mark Zuckerberg is smiling.
Mark Zuckerberg is smiling: Meta's profit margins are much improved — and that's partly because of a shrinking head count.

Josh Edelson/AFP/Getty Images ; Isabel Fernandez-Pujol/ BI

  • Meta lost an astonishing $16 billion on the Metaverse last year.
  • But Wall Street loves Meta late Thursday: Its stock is up another 12%.
  • One big reason: Even with the Metaverse losses, Meta's margins are way, way better.

Remember when investors were worried that Mark Zuckerberg was incinerating money on the Metaverse and virtual reality?

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Tech, meta, mark-zuckerberg, meta-stock, meta-stock-price, facebook, Instagram, whatsapp, metaverse, profit-margins, big-tech-earnings, big-tech
Source
Meta spent billions to close offices and lay people off. Now we know why.