Meta reported $3.67 billion in operating losses from Reality Labs this past Q3, following a deficit of $5.77 billion in H1 2022. That’s a total of $9.44 billion in losses from Meta’s division for augmented and virtual reality (AR/VR) hardware and software.
Big Tech’s economic omen: Tech giants’ earnings show steep declines in profits and the effects of reduced consumer spending and plunging ad revenues, It marks the end of pandemic-era growth and a continued downturn.
In-store retail media’s power isn’t dependent on personalization: That makes it significantly easier to deploy.
After a startup pitch competition, Money20/20's chief growth and strategy officer Scarlett Sieber offered her insight on the much-changed 2022 fintech landscape.
Insider Intelligence’s forecast estimates a 62% decrease in new neobank account openings, and a 44.6% drop in all digital account openings.
Broadridge's Global Chief Marketing Officer Dipti Kachru shared her insights into the rapidly evolving role of the CMO, the trends and challenges affecting her, and how she measures the success of marketing initiatives.
Amazon broadens advertising appeal with latest ad updates: The retailer is adding new formats and expanding the verticals that can advertise on its platform.
The most informative sessions unpacked providers’ increased alertness around fraud, the next era of BNPL, attendees’ excitement over open banking innovation, and fintechs’ efforts to align with regulators.
Hispanics fuel US population and economic output: The demographic group’s US consumer expenditures are growing faster than those of non-Latino consumers.
Inflation remains high. So does consumer spending. On this week’s Halloween episode of “Behind the Numbers: Reimagining Retail,” our analysts looked at a few silly and even spooky indexes for evaluating consumer behavior during times of economic constraint.
At Money20/20, Dan Rosen offered his insights on fintech funding cycles, what the coming consolidation among fintechs may look like, and what he learned from this year’s startup pitch competition.
Mobile ads that cover 80% of the screen receive 6.6 seconds of attention from the average smartphone user. That’s more than double the attention received by ads with 50% screen cover, and about eight times that of ads covering less than 10% of the screen.
Walmart Health expands clinics in Florida: We look at why 16 new health centers won’t be a gamechanger.
Meta faces rocky road to reverse underperformance: Q3 shows revenue outlook weakening as metaverse projects swell expenses.
For many, Facebook’s new name introduced “the metaverse” as a concept. But a year out, most people have not entered the metaverse. Right now, Meta’s facelift doesn’t appear to have legs. (Quite literally—the little Horizon Worlds avatars still don’t have legs.)
On today's episode, we discuss Uber's foray into advertising, whether or not we are past "peak newsletter," how to convert online shoppers into buyers, how Apple's privacy changes have affected mobile marketers, how much media young people consume, an explanation of what's most disrupting advanced TV, how much it costs to raise a kid in the US, and more. Tune in to the discussion with our vice president of Briefings Stephanie Taglianetti and analysts Ross Benes and Evelyn Mitchell.
Alphabet earnings disappoint, except in the cloud: Google Cloud surpassed Q3 expectations as Alphabet’s topline revenue dashes investor hopes. Expect more pressure on employees, which could harm workplace culture.
Shutterstock flip-flops on text-to-image tech: The stock image company has changed its mind about AI art, integrating DALL-E 2 into its platform. The outcome is uncertain as copyright challenges loom.
WhatsApp suffers a global outage: The world’s most popular messaging app went dark in various countries, underscoring the fragility of centralized communications and piling on Meta’s troubles as it prepares for its Q3 earnings call.
The API-powered BaaS platform Marketa for Banking offers seven products and is available in 40 countries.