In her yesterday report for first quarter earnings, Meta announced that its virtual and augmented reality division, Reality Labs, posted an operating loss of $3,99 billion. The same segment (Metaverse) brought in just $339 million in income.
CNBC he says:
The numbers show a slowdown from last quarter, when Reality Labs lost $4,28 billion on revenue of $727 million. For all of last year, Reality Labs posted an operating loss of $13,72 billion on sales of $2,16 billion, underscoring how VR and AR technologies have yet to become mainstream.
Despite Reality Labs' operating losses, Meta reported first-quarter net income of $5,71 billion, or $2,20 a share, with revenue rising less than 3% to $28,65 billion from $27,91 billion dollars that it was a year ago. That sent its stock jumping more than 10% in Wednesday trading.
“Facebook had 2,04 billion active users users daily, up 5% from a year ago, and Meta's 'family' of apps – which includes Instagram – reported 3,02 billion daily active users, an increase of 4%,” he says MarketWatch.
