CNBC October 25, 2023
Key Points
– Coming into the third quarter, Meta’s Reality Labs division had lost more than $21 billion since the start of last year.
– Meta debuted its Quest 3 VR headset in September, pitching it as a technically superior version of the older Quest 2 device.
– The Quest 3 starts at $499, which is $200 more than the Quest 2 but $500 cheaper than the high-end Quest Pro VR headset.
Meta continues to push the metaverse as the future. In the present, it keeps racking up losses.
In its third-quarter earnings report Wednesday, Meta revealed that its Reality Labs unit, which develops metaverse-related technologies, recorded a $3.74 billion operating loss.
Revenue in the virtual reality and augmented reality...
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