Meta’s metaverse unit – Reality Labs – recorded its most successful quarter to date despite sustaining significant financial losses.
Its recently released Q4 report revealed that the division clocked over $1 billion in revenue in the last quarter of 2023, primarily driven by sales of its Quest headsets and the Ray-Ban Meta smart glasses.
Reality Labs Breaks Revenue Records
Although surpassing the $1 billion revenue mark marks a significant achievement for Meta’s Reality Labs, the group is expected to continue incurring substantial losses in the coming periods. The metaverse-focused division reported a loss of $4.65 billion for the quarter and a total loss exceeding $16 billion in 2023.
This marks the division’s largest quarterly operating loss since the fourth quarter of 2020, when Meta initially incorporated Reality Labs’ financials into its reporting.
Reality Labs’ total revenues for 2023 amounted to slightly below $1.9 billion, with over half of the annual numbers gene
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