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The Guardian - US
The Guardian - US
Technology
Erin McCormick

Meta earnings drop by less than expected with boost from Reels

Meta Mark Zuckerberg Instagram Facebook TikTok metaverse Donald Trump
A person uses virtual reality headset in front of Meta logo
Meta increased spending on the metaverse. Photograph: Mike Blake/Reuters

Meta investors got some good news in the social media company’s latest earnings report on Wednesday, which showed a smaller drop in revenues than analysts had expected.

Meta, which also owns Instagram and Whatsapp, reported $32bn in revenue for the fourth quarter, which drove a rise in its stock price in extended trading on Wednesday.

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