American Thinker
So, it is gratifying to learn that his [Mark Zuckerberg] so-far unsuccessful quest to make virtual reality games a revenue-spinner is flopping badly. Jonathan Vanian of CNBC writes:
Meta reported second-quarter earnings on Wednesday and said that its Reality Labs unit, which develops virtual reality and augmented reality technologies needed to power the metaverse, logged a $3.7 billion operating loss.
The unit recorded $276 million in second-quarter sales, down from the $339 million in revenue it brought during the first quarter. Analysts polled by StreetAccount were projecting Reality Labs to record $421 million in sales and $3.5 billion in operating losses.
It’s always bad to disappoint the analysts, because they help shape the prices people are willing to pay for your stock. More
That is really good news!
Speaking of failing companies, Disney stock is at a 5-year low and its parks are deader than disco.
The cover story of this weeks Barrons has Disney as undervalued and a good comeback play. It was so gratifying to read the hundred-plus comments, all saying the same thing; Disney is dead money until the woke shit gets buried.
I’m surprised the shareholders, most of which are older Americans who remember with fondness the name and reputation of their youth, are not making more of a stink. I give Iger 2 quarters of falling-off-the-cliff revenue before he is forced to act.
How much did they spend in order to lose $4 billion? Somebodies got rich or is it just accounting tricks? $4 Billion and nothing to show for it, not even a Chinese electric car.
See this matters a big nuttin burder. Mark’s real edge kicks in real soon! Matters how? Shows Loser Donny has no corporate freinds.
$3.7 billion is a lot of cheeseburgers in the landfill. Besides, the kids are still playing MarioKart. You don’t need expensive virtual crap for that.
Facebook is old, worn out and for boomers and Gen-Xers. Besides, the guy’s a lying dweeb mutant SOB. Might even be a lizard person.
When you invest in companies that are run by thieves you can only expect them to destroy your investment capital. That is what crooks do.
@ jpm
lie down with dogs, wake up with fleas
Is this like The Creature from the Black Lagoon with 3-D glasses?