The popular theory that Mark Zuckerberg’s Metaverse is destroying Metaplatforms (FB)the company formally known as Facebook, could be prophetic.

For example, Meta’s revenue growth contracted -4.47% in the quarter ending September 30, 2022, Stockrow estimates. Consequently, Facebook’s revenue fell from $29.01 billion on September 30, 2021, and $28.822 billion on June 30, 2022, to $27.998 billion on September 30, 2022.

Similarly, Meta’s quarterly gross profit fell from $23,630 million on June 30, 2022 to $21,998 million on September 30, 2022. Additionally, Meta’s quarterly operating profit fell from $10,423 million on September 30, 2021 to $8,358 million on June 30, 2022 to $5,664 million on September 30, 2022.

Thus, Meta’s quarterly operating income fell by almost 50% in one year….