In the year since it has been rehabilitated. Meta’s core business engaging 3.1bn people a day on Facebook, Instagram and WhatsApp, and selling advertisers access to their attention is back to rude health. On October 25th the company reported revenues of $34.1bn in the third quarter, up by 23% year on year. That was the sharpest rise since the digital boom of the covid-19 pandemic. Net profits more than doubled to $11.6bn. Meta’s share price has risen by 250% since last year’s nadir.On the day Meta issued weak third-quarter earnings last year, its share price fell by more than a fifth. Zuck’s name was mud. Is Metaverse a good bet ?
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