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.
Related Content
- Magnate Finance on Base rug pulls users of $6.5M, as predicted by on-chain sleuth
- Why is Solana (SOL) price down today?
- Wallet crypto bot rolls out on Telegram in Colombia, SA and Kenya
- Only 6 out of 45 crypto wallet brands have undergone penetration testing: Report
- Decentralized social networks have a retention problem, say execs