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Meta’s Reality Labs posts $2.9B loss: ‘I recognize it’s expensive’ says Zuck
2022.04.28 07:32
Meta’s Reality Labs posts $2.9B loss: ‘I recognize it’s expensive’ says Zuck
Meta Platforms Inc., formerly known as Facebook Inc (NASDAQ:FB)., posted its Q1 2022 earnings on Wednesday, with its Metaverse-focused Reality Labs division posting increased losses.
The Reality Labs division — formerly known as Facebook’s Oculus division — has been spending increasing sums of capital on developing virtual reality and metaverse-related products, posting a $2.9 billion loss for Q1 2022. That’s 61% more than its $1.8 billion loss in Q1 2021.
