Meta CEO Mark Zuckerberg recently conveyed the company’s steadfast commitment to its metaverse vision and artificial intelligence (AI) during a second-quarter earnings call reflecting a $37 billion loss in Reality Labs. Reality Labs, Meta’s augmented and virtual reality (AR/VR) d...
- Mark Zuckerberg reaffirms commitment to metaverse vision and AI despite loss.
- Reality Labs, Meta’s AR/VR division, experienced a $3.7B operating loss in Q2.
- Meta continues to invest in AI and metaverse development while leaving NFTs and crypto behind.
Meta CEO Mark Zuckerberg recently conveyed the company’s steadfast commitment to its metaverse vision and artificial intelligence (AI) during a second-quarter earnings call reflecting a $37 billion loss in Reality Labs.
Reality Labs, Meta’s augmented and virtual reality (AR/VR) division, generated $276 million in Q2 revenue, experiencing a 39% decrease due to lower VR headset sales. The division’s expenses stood significantly higher at $4 billion, resulting in an operating loss of $3.7 billion.
Despite the financial challenges, Zuckerberg remains optimistic about Reality Labs’ role in Meta’s long-term strategy, highlighting it as a significant opportunity for the company.
Interestingly, Meta expects more substantial year-over-year increases in operating losses for Reality Labs. The driving factors behind this forecast are Meta’s dedication to advancing product development in AR/VR.
Furthermore, Zuckerbe…
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