List of All Articles with Tag 'son'

Mark Zuckerberg’s big bet on the metaverse has now lost $40 billion – and the company intends to lose even more. The huge figures were revealed as part of Meta’s latest results, which generally showed a strong rise in advertising revenue. But they also showed an increase in expenses at the company, with the development not only of the metaverse but also artificial intelligence and legal fees. Meta has been dramatically cutting costs and laying off staff. But at the same time it has been spending heavily on some projects, such as the metaverse, in the face of criticism from those who suggest that the bet is unlikely to pay off. That work on the metaverse is done by the company’s Reality Labs unit, which is responsible for developing technology like augmented reality glasses. It reported sales of $276 million, down from $452 million in the same quarter last year. The unit lost $3.7 billion in the second quarter, putting it on track to have far higher costs than the $5 billion annual target set out in a widely circulated investor note in the fall. The unit has lost more than $40 billion since 2021, including $13.7 billion last year. Meta said it expected Reality Labs operating losses to “increase meaningfully” in 2024 as the company continued to invest in augmented and virtual reality and “scale our ecosystem.” Zuckerberg had previously said Meta would “pace” investments in the division after 2023. He told investors he understood why many of them would feel discomfort over such a long-term bet. But the positive results across the company pushed Meta shares up 7.5 per cent. “We continue to see strong engagement across our apps and we have the most exciting roadmap I’ve seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall,” Meta chief executive Mark Zuckerberg said. Meta’s second-quarter revenue grew 11% to $32 billion in the quarter ended June 30, compared with analysts’ average estimate of $31.12 billion. Ad revenue rose 12% in the quarter, faster than growth at Google, where ad revenue rose 3%. Adjusted earnings per share of $2.98 topped Wall Street targets of $2.91, according to data from Refinitiv. The social media giant has been climbing back from a bruising 2022, buoyed by hype around emerging AI technology and an austerity drive in which it has shed around 21,000 employees since last fall. The company’s shares have more than doubled in value this year as a result. Advertisers are reinforcing those gains by pumping money into digital ads again after months of muted spending, heartened by signs that the economy may overcome a bout of high inflation without suffering a major meltdown. Brands are hedging their bets, however, and sticking with tried and true platforms. That helps Meta and Alphabet while punishing smaller players like Snap, which reported disappointing sales on Tuesday. Meta’s revenue forecast did not specify whether the figure includes any sales that might come from the recently launched Threads app, which does not yet have ads. Additional reporting by Reuters Read More Elon Musk’s ‘X’ is already trademarked by Mark Zuckerberg How Mark Zuckerberg’s new ChatGPT rival could lead to ‘obscene’ AI Meta unveils its ChatGPT rival Llama Here’s how to claim your share of $725m settlement in Facebook’s privacy lawsuit Elon Musk forces firms to pay X $1,000 to keep gold ticks Slack has stopped working

Liverpool duo Thiago Alcantara and Stefan Bajcetic have not travelled with the squad to Singapore in order to work on their recovery from long-standing injuries. Fellow midfielder Fabinho’s absence from the party was expected as he is awaiting confirmation of a £40million move to Saudi Pro-League club Al-Ittihad. However, it is understood Thiago and Bajcetic, who did travel to the camp in Germany when Fabinho did not, have been given more time to complete their rehabilitation from hip and adductor problems. With captain Jordan Henderson having already completed his £12m transfer to Al-Ettifaq, it leaves manager Jurgen Klopp short of options in midfield for matches against Leicester and Bayern Munich.

By Diane Bartz WASHINGTON U.S. senators Elizabeth Warren, a Democrat, and Lindsey Graham, a Republican, said on Thursday

Long-time Olympic power broker Sheikh Ahmad al-Fahad al-Sabah has been banished by the IOC for three years

Sweden’s prime minister says that police have received several permit applications for the burning of religious texts in the country next week

Predicting the NBA's Christmas Day schedule.

Christian Yelich heard all the talk about whether he ever could recapture the MVP form he showed early in his Milwaukee Brewers tenure

The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the Commerce Department reported Thursday.

Facebook users in the US have just one more month to apply for a share of a $725 million privacy settlement. Meta agreed to pay the fine late last year, but those affected must explicitly ask for it by sending in a form. Those that don’t will miss out on any share of the vast settlement. The payment is part of an agreement, reached with Meta, to settle a lawsuit that alleged it allowed millions of its users’ personal information to be fed to Cambridge Analytica, a firm that supported Donald Trump’s 2016 presidential campaign. Anyone in the US who has had a Facebook account at any time between May 24, 2007, and December 22, 2022, is eligible to receive a payment. To apply for the settlement, users can fill out a form and submit it online, or print it out and mail it. The deadline is August 25. It’s not clear how much money individual users will receive. The larger the number of people submitting valid claims, the smaller each payment will be since the money has to be divided among them. The case sprang from 2018 revelations that Cambridge Analytica, a firm with ties to Trump political strategist Steve Bannon, had paid a Facebook app developer for access to the personal information of about 87 million users of the platform. That data was then used to target U.S. voters during the 2016 campaign that culminated in Trump’s election as the 45th president. Uproar over the revelations led to a contrite Zuckerberg being grilled by U.S. lawmakers and spurred calls for people to delete their Facebook accounts. Facebook’s growth has stalled as more people connect and entertain themselves on rival services such as TikTok, but the social network still boasts more than 2 billion users worldwide, including an estimated 250 million in the U.S. Beyond the Cambridge Analytica case, Meta has been under fire over data privacy for some time. In May, for example, the EU slapped Meta with a record $1.3 billion fine and ordered it to stop transferring users’ personal information across the Atlantic by October. And the tech giant’s new text-based app, Threads, has not rolled out in the EU due to privacy concerns. Additional reporting by Associated Press Read More Ukraine war’s heaviest fight rages in east - follow live Charity boss speaks out over ‘traumatic’ encounter with royal aide

UEFA confirm Barcelona's Champions League fate after suspending their investigation into the Negreira case. The La Liga holders exited last season's competition at the group stage before crashing out of the Europa League.

Sean Payton didn't pull any punches in a USA Today interview, as he criticized former Denver Broncos head coach Nathaniel Hackett, while also throwing shots at the New York Jets.The Denver Broncos' 2022 season was a downright disaster. After trading for quarterback Russell Wilson, the ...

If you predicted a reference to Stephen King's Carrie in The Witcher Season 3, you