Meta Platforms Prepares to Reveal Billions in Metaverse Spending

Meta Platforms reports fourth-quarter earnings with investors closely watching its massive financial commitment to the metaverse. The tech giant sacrifices short-term profits to build a futuristic digital environment.

27 Jan 2022 • 1 min read

Meta Platforms reports its fiscal 2021 fourth-quarter earnings amid a massive shift in business strategy toward the metaverse. The company now separates its financial reporting into two distinct segments, highlighting the Family of Apps and Facebook Reality Labs, which houses all augmented and virtual reality metaverse projects.

The tech giant invests heavily in this futuristic vision, with metaverse development reducing overall operating profits by $10 billion in fiscal 2021 alone. Management projects total operating expenses to surge from $70.5 billion to a midpoint of $94 billion in 2022 as these ambitious investments accelerate significantly.

CEO Mark Zuckerberg openly admits this venture is not profitable anytime in the near future, but he hopes to bring a billion people into the metaverse by the end of the decade. If successful, this more natural form of digital communication eventually generates hundreds of billions of dollars in digital commerce to rival the company's current social media profits.

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