GameStop to drop crypto efforts as Q3 losses near $95M
Gaming retailer GameStop says it will no longer focus any efforts on cryptocurrencies, after amounting $94.7 million in net losses in the third quarter and laying off staff from its digital assets department. On a Dec. 7 earnings call GameStop CEO, Matt Furlong, said it “proactively minimized exposure to cryptocurrency” over the year and “does […]
Metaverse losses top $3.6B for Meta with spending set to increase
Big Five technology player Meta is still burning cash through its Metaverse research and development arm Reality Labs with a $3.67 billion loss posted for the third quarter of 2022, stating those losses will further deepen next year. The company’s Q3 2022 earnings released on Oct. 26 show the biggest-ever quarterly losses for Reality Labs […]