Facebook employees take a photo with the company's new name and logo outside its headquarters in Menlo Park, Calif., on Oct. 28, 2021. Meta, the company that owns Facebook, Instagram and WhatsApp, saw its stock plunge after-hours Wednesday, Feb. 2, 2022, after reporting a rare decline in its fourth quarter profit due to a sharp increase in expenses. (AP Photo/Tony Avelar, File)
Newly renamed Meta is investing heavily in its futuristic “metaverse” project, but for now, relies on advertising revenue for nearly all its income.