Facebook invests billions in metaverse efforts as ad business slows

The financial commitment by the world's largest social media company to building the "metaverse" comes as the company is swamped by coverage of documents leaked by former Facebook employee and whistleblower Frances Haugen which she said showed the company chose profit over user safety.

Facebook said on Monday it will start breaking out the financials for its virtual and augmented reality unit, an announcement that comes as its main advertising businesses face "significant uncertainty."Facebook warned that Apple Inc's new privacy rules would weigh on its digital business in the current quarter, after the social media company reported quarterly revenue below market expectations.