Reality Labs Posts $3.7 Billion Operating Loss in Q2
Meta’s metaverse-related division, Reality Labs, reported a significant operating loss of $3.7 billion in the second quarter of this year. Despite this, Meta remains committed to metaverse development. Revenue for Reality Labs in Q2 was $276 million, down from $452 million in the same period last year. The division’s expenses amounted to $4 billion in Q2, primarily due to increased employee-related costs.
Key Points:
- Reality Labs recorded a $3.7 billion operating loss in Q2.
- Revenue for the division was $276 million, down from $452 million in the same period last year.
- The division’s expenses totaled $4 billion, primarily due to increased employee-related costs.
- Meta CEO, Mark Zuckerberg, expressed continued commitment to the metaverse vision.
- Despite the losses, Meta reported $7.79 billion in profits overall for the quarter.
Hot Take: Despite the significant losses, Meta’s commitment to metaverse development remains unwavering. The company believes in the potential of both the metaverse and AI, identifying them as the two major technological waves they are riding. While Reality Labs may be experiencing setbacks, Meta’s overall profits and revenue growth demonstrate the company’s resilience and long-term vision.
By
By
By
By
By