Meta share increases to meta-verse expansion after hours and defies slow growth

Meta share increases to meta-verse expansion after hours and defies slow growth

six months after Facebook's rebranding Meta Platforms reported the slowest quarterly growth since the company's IPO in 2012.

The weak quarterly sales increase marked the lowest of Meta since the sales increase of the social media company by 7 % in the first quarter of 2022.

The company's Reality Labs division, which produces virtual and augmented reality infrastructure and software, has exceeded expectations for the first quarter. The unit achieved income of $ 695 million and thus exceeded the 683 million US dollars Results report .

The company will continue to invest a lot in its meta-verse projects, said CEO Mark Zuckerberg during Meta's conference conference on Wednesday. Horizon Worlds, the digital ecosystem of META, which will enable users to sell virtual assets and experiences, should appear on the Internet this year.

"Our other focus for Horizon is to build the meta-severse economy and the support of developers to make a living with working in meta persons," said Zuckerberg. "We assume that it is much better in monetization than others in this area."

Meta reported 3.64 billion monthly users for their app family, to which Facebook, Instagram, Messenger and WhatsApp belong-an increase of 6 % compared to the previous year.

In addition to the expansion to the meta verse and creator industry, Meta hopes to improve his reels advertising options in view of the increasing competition from other video-based social media apps, said Sheryl Sandberg, Chief Operating Officer from Meta.

META continues to consider regulatory risks related to privacy and data protection, added Sandberg in response to a question during the telephone conference.

"Overall, the regulatory environment is a real challenge for our industry," said Sandberg. "We think that we are well positioned to meet [Requirements by] We work closely with the supervisory authorities and do things in our technology and technologies to improve privacy to achieve less data, but we assume that this will continue to be a significant challenge for our entire industry."

The meta share, which has fallen by 48 % since the beginning of the year, was traded by about 19 % higher after the publication of the result report during the post-exchange trade.

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The contribution Meta Stock Soars After Hours on Metaverse Expansion, Defying Sloving Growth is not a financial advice.