The revenue of Facebook parent Meta has fallen for a second consecutive quarter. That's raising questions about whether the company should keep spending $10 billion a year on the metaverse — which doesn’t quite exist yet and possibly never will.
Some of the company’s investors are concerned Meta is spending too much money and confusing people with its focus on the metaverse, a virtual, mixed and augmented reality concept that few people understand — while it also grapples with a weakening advertising business.
In addition to an accelerating revenue decline, Meta also forecast weaker-than-expected sales for the current quarter, further raising worries that the revenue slump is more of a trend than an aberration.
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