Meta’s Zuckerberg sounds positive note on metaverse bet amid revenue decline

Facebook’s parent company posted its second-ever quarterly revenue decline Wednesday and said it plans to lose even more money next year on its efforts to build out immersive digital realms known as the metaverse.

Meta Platforms said it brought in $27.7 billion during the third quarter of 2022, over 4 percent less than the $29.01 billion the company brought in during the same period last year. Last quarter, Meta reported its first quarterly revenue decline in its decade as a publicly traded company.