Metaverse division’s $4B loss drags on positive first quarter for Meta

Meta suffered a nearly $4 billion loss from its metaverse unit with Reality Labs in what was otherwise a strong first quarter for the Mark Zuckerberg-led social media empire, which posted a final profit of $5.7 billion. While the $4 billion loss follows a $14 billion loss in 2022, Zuckerberg described in the incomes report that Reality Labs will likely suffer more losses in the remainder of 2023.” We continue to anticipate Reality Labs running losses to increase year-over-year in 2023,” forecasted Zuckerberg.Metas metaverse-focused Reality Labs unit suffered another huge loss.

Meta suffered a nearly $4 billion loss from its metaverse unit with Reality Labs in what was otherwise a strong first quarter for the Mark Zuckerberg-led social media empire, which posted a last revenue of $5.7 billion. While the $4 billion loss follows a $14 billion loss in 2022, Zuckerberg explained in the profits report that Reality Labs will likely suffer more losses in the rest of 2023.” We continue to anticipate Reality Labs running losses to increase year-over-year in 2023,” forecasted Zuckerberg.Metas metaverse-focused Reality Labs system suffered another huge loss.