Reality Labs, the Metaverse division of Meta, suffered a loss of US$4.65 billion in Q4 2023, with revenue of nearly US$1.1 billion.
Tech giant Meta's Q4 2023 earnings report showed that its Reality Labs division had a loss of $4.65 billion and revenue of nearly $1.1 billion in the previous quarter. This was the largest quarterly operating loss for the division since Q4 2020, when Meta first included Reality Labs' financial data in its reports. Reality Labs' total revenue in 2023 was slightly below $1.9 billion, with over half of that revenue coming from Q4 when it released Meta Quest 3. Its total operating loss for 2023 was $16.1 billion, a YoY increase of 17.5%. Meta CFO Susan Li stated that due to the development of AR and VR products and "further investment in expanding the ecosystem," Reality Labs' losses are expected to "significantly increase YoY." Additionally, Meta's total revenue for 2023 was $134.9 billion, exceeding the expectations of Wall Street research firm Zacks and growing 16% from 2022.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Donald Trump uses Bitcoin to buy burgers at NYC bar
Google Cloud Unveils Blockchain RPC Service: What It Means for Adoption
Critical FED Interest Rate Decision Expected in Bitcoin Today! What Time Will It Be Announced? Here Are the Expectations and Things to Know!
While the FED's interest rate decision is awaited in Bitcoin today, it remains unclear whether the FED will reduce interest rates by 25 basis points or 50 basis points.
Last Minute Interest Rate Announcement from BofA and Two Companies – Here is the Decision They Expected Just Ahead
Analysts from BofA and two other firms shared their latest expectations for the Fed's interest rate decision, which is now just minutes away.
Trending news
MoreCrypto prices
More
