Facebook said on Oct. 25 that it plans to break out Facebook Reality Labs, or FRL, as a separate reporting segment starting with fourth quarter results. The new unit will provide revenue and operating profit for its augmented and virtual reality hardware, software and content. The other segment, Family of Apps, or FoA, will include Facebook’s flagship network, Instagram, WhatsApp and other services.
The social networking company reported that third-quarter revenue rose 35% from a year earlier to $29 billion. It forecast fourth-quarter revenue to be in the range of $31.5 billion to $34 billion, citing “headwinds” from privacy changes that Apple made to its mobile operating system that affect targeted advertising.Source: REUTERS/Stephen Lam
Facebook Founder and CEO Mark Zuckerberg speaks on stage during the annual Facebook F8 developers conference in San Jose, California, U.S., April 18, 2017.
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