Facebook’s Metaverse Reports Over $3.67 Billion In Quarterly Losses


It’s been a poor quarter for Facebook’s parent company Meta, which reported more than $3.67 billion in losses this quarter at its metaverse division called Reality Labs, marking a substantial increase in losses from $2.8 billion just last quarter. The company also said it expects to lose even more money next year.

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“We do anticipate that Reality Labs operating losses in 2023 will grow significantly year-over-year,” exiting Meta Chief Financial Officer Dave Wehner said.