PC Tech

Meta Incurs Billions in Losses as Reality Labs Division Struggles

The Reality Labs division reported losses of $4.3 billion in Q4 2022, $3.7 billion in Q3, $3 billion in Q2, and $2.96 billion in Q1, bringing the total losses for 2022 to $13.7 billion. This follows another $10.2 billion in losses from Reality Labs in 2021.

Mark Zuckerberg stated that the results of this investment may not be seen for another decade, and the company’s CFO, Susan Li, anticipates even greater losses in 2023.

In 2022, Meta launched the Quest Pro VR headset for enterprise use, with plans to release a consumer version of the Quest 2 this year.

The substantial losses from Reality Labs only add to Meta’s challenging financial situation, as revenue declined 4% to $32.2 billion at the end of 2022.

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