Meta has lost over $45 billion on virtual reality and the metaverse since 2020
Facebook ’s parent company, Meta, made a lot of money in its last financial quarter. However, its virtual reality and augmented reality division, Reality Labs , lost over $3 billion. That means that since June 2022, the metaverse-focused division has lost a billion dollars per month, and Meta expects to continue losing billions on VR. As reported by MSNBC, in its first-quarter earnings report released on Wednesday, Meta disclosed that Reality Labs had lost $3.85 billion.
In a press release announcing its Q1 2024 financial report, Meta made it clear that it not only expects to keep losing money on VR, but that these losses will grow, saying: “We continue to expect operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and our investments to further scale our ecosystem.
3D Guis Business Finance Zuckerberg Virtual Reality Wearable Devices Meta Quest 3 Quest 2 META Draft:Meta Quest 4 Meta Platforms Augmented Reality Metaverse Reality Labs Kotaku
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