VentureBeat October 25, 2023
Meta reported that it lost $3.7 billion in the third quarter in its metaverse-focused Reality Labs division.
In its quarterly analyst call, Susan Li, chief financial officer at Meta, said the company had about $210 million in revenue in the quarter, down 26% due to lower Meta Quest 2 sales in advance of the October launch of the Meta Quest 3 virtual reality headset. Expenses were $4 billion, or flat year over year.
In a bit of non-news, Meta said that it expects to continue to lose money in its Reality Labs division, according to the company’s report on its third quarter. Out of the last 21 months, Reality Labs has lost about $24 billion.
“Finally, for Reality Labs, we...
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