In 2023 Meta names a year of efficiency; Expects further losses in its Metaverse Division-Metaverse

Meta, the company, the Facebook, Instagram and WhatsApp belong, published its results for the fourth quarter and registered better figures than expected. While the company exceeded the sales estimates, CEO Mark Zuckerberg declared a "year of efficiency" in 2023 and indicated a further restructuring of the company in order to concentrate on its KI- (artificial intelligence) and meta-severse projects in the long term

Meta reports better results for Q4 2022

META, the social enterprise, reported slightly positive results for the fourth quarter of 2022, exceeded the sales expectations and gave a deeper explanation of the direction that the company will take in 2023. The company received income, higher than the estimated 31.53 billion US dollars, which gives investors hope for the recovery of the company in the future.

The company, which was criticized for the focus of its business model on the meta -verse, a digital representation of the real world, is now trying to realign itself according to the difficult losses that research and development in this technology has brought in. Meta-CEO Mark Zuckerberg explained that the management topic 2023 would be the "year of efficiency".

Zuckerberg said that within the framework of this new focus "The company will work to flatten out our organizational structure and to remove some levels of middle management in order to be able to make quick decisions, as well as to use AI tools to help our engineers more productive." In addition, Zuckerberg explained that Meta will be more aggressive in the future when it comes to pulling the connector in the event of weak or not decisive projects.

metaverse is still a long -term priority

While Reality Labs, the company's meta-verse division, suffered losses of almost $ 14 billion in 2022, Zuckerberg still sees this as a priority in the long term. Zuckerberg also mentioned Ki as one of the main focus of the company, with the aim of involving it as a operational advantage in order to better monetize his short video product Reels.

Zuckerberg specified :

The two large technological waves that drive our roadmap are now AI and the Metaverse.

in the long term.

META-CFO Susan Li made it clear that Meta expects to lose more money in the operation of Reality Labs in 2023, but this justified this with the great opportunities that could bring this to the company. She explained:

We continue to assume that our reality Labs losses for the year as a whole will increase in 2023, and in view of the considerable long-term opportunities we see, we will continue to invest in this area.

In September the company announced Several adjustments to reduce operating costs, including the discharge of 11,000 employees, which corresponds to 13 % of the workforce, as part of its increase in efficiency.

What do you think about the direction that Meta hits in 2023? Tell us in the comment area below.

Sergio Göschenko

sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game and entered the cryptosphere when the price increase took place in December 2017. He has a background as a computer engineer, lives in Venezuela and is affected by the cryptocurrency boom on a social level. It offers a different perspective on the crypto success and how it helps those who have no bank account and are under-supplied.

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