The world’s largest social media, Facebook, is set to focus on building the metaverse as its main advertising business, causing a drop in the quarterly revenue of the company.

Facebook said that in the fourth quarter of 2021, it would break FRL, the part of its business that works on augmented and virtual reality into a separate reporting segment from its family of apps.

Facebook, whose shares have gained about 20 percent so far this year, is about $85bn away from regaining a spot on the $1 trillion club.

The company expects its fourth-quarter revenue to be in the range of $31.5bn to $34bn.

Analysts had forecast $34.84bn in revenue, or a 24.1 percent jump.

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