VentureBeat February 1, 2024
Meta reported that it lost $4.65 billion in the fourth quarter in its metaverse-focused Reality Labs division.
Whatever you think of that loss, it means that Meta’s metaverse division is still spending a lot of money on research and development.
In the previous third quarter, Meta reported that it lost $3.7 billion in the third quarter in its metaverse-focused Reality Labs division. Reality Labs is Meta’s metaverse, virtual reality and augmented reality division, with businesses such as the Meta Quest 3 and the Ray-Ban Meta Glasses.
Reality Labs reported a loss of $4.65 billion for the three months ended December 31, higher than the loss of $4.28 billion in the same quarter a year ago. For the year ended December...
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