The other bet of Meta is making Alphabet’s other long-play segment look cheap, both in cash and in terms of market capitalization.

Shares in Facebook’s parent company tumbled after the company reported huge costs and losses associated with its forward-looking metaverse project, accompanied by a decline in revenue that, while affected by the currency shift , it was still far from the heady days when Meta just seemed to grow up no matter what. the business climate. And the company is signaling that more spending is coming.

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Meta’s bottom line results and forward trading guidance saw its shares down just under 23% in premarket trading. That the company is not…