Meta

<ul>
 <li>The overall operational loss for 2023 was $16.1 billion.</li>
 <li>The company anticipates a significant year-over-year growth in Reality Labs’ losses.</li>
</ul>
Despite recording its most quarterly sales ever in the Q4 of 2023, Meta’s mixed-reality arm, Reality Labs, had an operating loss of more than $4.6 billion.
While Meta’s virtual and augmented reality (VR/AR) research arm, <a href="https://about.meta.com/realitylabs/" target="_blank" rel="noopener noreferrer nofollow">Reality Labs</a>, lost $4.65 billion in Q4, the company’s overall revenue was roughly $1.1 billion, according to figures announced on February 1st.
<h3 class="wp-block-heading" id="h-banking-on-ai-and-metaverse">Banking on AI and Metaverse</h3>
Since Reality Labs’ financials were first included in <a href="https://thenewscrypto.com/us-committee-urges-meta-disclosure-over-blockchain-and-crypto-trademarks/" target="_blank" rel="noopener noreferrer nofollow">Meta’s</a> reporting in the fourth quarter of 2020, this is the highest quarterly operating loss for the arm.
With the introduction of the Meta Quest 3 in the Q4, Reality Labs generated over half of the year’s revenue, bringing the total to a little under $1.9 billion. The overall operational loss for 2023 was $16.1 billion, representing a 17.5% rise from the previous year.
Reality Labs’ new Quest 3 virtual reality headset, which debuted on October 10, 2023, was “off to a strong start,” according to Meta founder and CEO <a href="https://www.facebook.com/zuck/" target="_blank" rel="noopener noreferrer nofollow">Mark Zuckerberg</a>, who attributed Reality Labs’ profits to a “strong holiday season” for the Quest series.
He continued by saying that the company will keep pouring resources into AI and <a href="https://thenewscrypto.com/victoria-vr-debuts-web3-metaverse-on-apple-vision-pro-release/" target="_blank" rel="noopener noreferrer nofollow">metaverse</a> projects since they were important to the company’s long-term strategy. The area of artificial intelligence is developing at a rapid pace, and he receives a lot of questions about it these days, Zuckerberg said.
According to Meta CFO Susan Li, the company anticipates a significant year-over-year growth in Reality Labs’ losses as a result of the development of AR and VR products and expenditures made to expand its ecosystem.
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Meta’s Reality Labs Witnesses Quarterly Operating Loss of $4.6B

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