₿ Explore the crypto world with us...


Meta Lost $2.8 Billion in Metaverse Department

In its latest earnings report, Meta has disclosed a substantial loss of $2.8 billion within its metaverse division.

The financial statement, released today, highlights the performance of Meta’s Facebook Reality Labs (FRL) division, encompassing augmented and virtual reality operations, which incurred the reported loss of $2.81 billion during the second quarter.

It is noteworthy that analysts had projected a slightly higher loss of $3.67 billion for this period.

Meta Lost $2.8 Billion in Metaverse Department

While FRL generated $695 million in revenue during the first quarter, this figure dwindled to $452 million in the second quarter, constituting a small fraction of Meta’s overall revenue of $28.4 billion.

Despite the financial setback, Meta anticipates a further decline in Reality Labs revenue during the third quarter compared to the second quarter. Mark Zuckerberg, the CEO of Meta, emphasized the company’s intensified focus on metaverse and the real growth it envisions.

Zuckerberg had previously mentioned, during the first-quarter report, that the company’s metaverse endeavors have successfully laid a strong foundation for the developments expected in the 2030s.

You may also like this content

Follow us on TWITTER (X) and be instantly informed about the latest developments…


Metaverse Planet is your gateway to the exciting world of artificial intelligence. On this platform, you can find everything related to artificial intelligence:

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Milla Sofia: Fascinating AI Model Shares Striking Visuals 6 Most Followed Cryptocurrencies on Twitter Web 2.0 to Web 3.0 Lacoste Enters Metaverse Artificial intelligence FAQs , About Artificial intelligence Replace your daily applications with AI-powered alternatives ✅ Our Smartphone Applications Discover the Popular Metaverse Coins Binance vs Ethereum Metaverse Ecosystem Founder of Ethereum: Vitalik Buterin How to Enter Metaverse? Gucci Chose Miley Cyrus Avatar for Web3 Fragrance! Those who have been doing Hodl lately are very comfortable. Controversial AI Sensation Milla Sofia Under Fire for Provocative Appearance India’s First Metaverse Wedding: Over 3,000 Guests Celebrate How to Make an Avatar on Instagram? Easy Explanation with Pictures Which Is Your Choice? DOGE or SHIBA ? Fan Token Ecosystem 6 Most Followed Cryptocurrencies on Twitter Top 8 NFT Sales Sites! (Create Paid And Free NFT!) What is Decentraland? (MANA) Coin Before having nft after having This Man Told Everyone To Buy Bitcoin For $1 Just 8 Years Ago Differences between crypto and bank Popular AI Coins