Facebook Launches Ray-Ban AR Smartglasses, Profit Exceeds Wall Street Expectations

Social networking giant Facebook announced on Wednesday that its next hardware launch will be a pair of smart glasses being developed in collaboration with Ray-Ban owner Essilor Luxottica Group.

In the company’s second-quarter 2021 earnings announcement, Facebook CEO Mark Zuckerberg said that glasses have Ray-Ban’s “symbolic form factor” that allows users to “do pretty decent things.” I said I can.

Zuckerberg didn’t elaborate on these “neat” features, but “we’re excited to put them in the hands of people and continue to move forward towards fully augmented reality glasses in the future. “.

Zuckerberg also did not extend the technical specifications of smart glasses or the timeline for launch.

Facebook smart glasses are rumored to be under development for quite some time.Report from last year The Verge He claimed that the rumored glasses did not have a display integrated.

It was also claimed that engineers on the “Project Aria” team were experimenting with eyewear.

Zuckerberg also talked about creating a virtual “Metaverse” in his keynote speech. This is a set of augmented reality (VR) technologies that allow users to interact in a 3D virtual world on the Internet.

“So what is the Metaverse? It’s a virtual environment [like] Not just looking, the embodied internet you are inside. And I believe this will be the successor to the mobile internet. “

He described the Metaverse as the next chapter on the Internet. This requires significant investment not only from Facebook, but from the entire ecosystem of partners.

“In the next few years, we expect people to move from seeing us primarily as a social media company to seeing us as a metaverse company,” Zuckerberg said.

At a conference call on Wednesday, Zuckerberg also announced that Facebook doubled its profits in the second quarter of 2021 (ending June 30) thanks to a surge in advertising revenue.

The company’s profits for the quarter were approximately $ 10.4 billion, well above Wall Street’s estimate of $ 8.7 billion.

According to Facebook, total revenue for the three months was close to $ 29.1 billion, up 56% from the year-ago quarter.

“Ad revenue growth in the second quarter of 2021 was due to a 47% year-on-year increase in average price per ad and a 6% increase in the number of ads served,” he added.

However, the company expects a “significant year-on-year slowdown in total revenue growth” in the third and fourth quarters of 2021.

CFO David Wehner said “regulations and platform changes” could slow sales growth, pointing out Apple’s recent iOS app tracking rules.

In April, Apple began rolling out updates for iOS 14.5 and iPad OS 14.5. This allows users to use the app tracking transparency feature. Data with a data broker. “

Facebook, which earns the majority of advertising revenue, claims that such changes will have a devastating impact on small businesses that rely on targeted advertising, limiting their ability to reach their customers effectively. I opposed it.

These changes can have a significant impact on Facebook’s business in the coming months.

Facebook Launches Ray-Ban AR Smartglasses, Profit Exceeds Wall Street Expectations

Source link Facebook Launches Ray-Ban AR Smartglasses, Profit Exceeds Wall Street Expectations

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