During a recent earnings call, Meta chief financial officer Susan Li said the company expects Reality Labs’ losses to “increase meaningfully year-over-year.”
Meta’s mixed-reality division, Reality Labs, notched an operating loss of over $4.6 billion in the fourth quarter of 2023 despite posting one of the strongest quarterly revenue results in its history.
Meta’s fourth quarter results released on Feb. 1 show Reality Labs — its virtual and augmented reality (VR/AR) research arm — lost $4.65 billion in Q4, while revenue came in at nearly $1.1 billion.
It’s the largest quarterly operating loss for the division since the fourth quarter of 2020 when Meta first added Reality Labs’ financials to its reporting.
Read more
Source: https://cointelegraph.com/news/meta-metaverse-divison-records-1b-revenue-4b-loss-earnings