Meta’s Metaverse Division Just Reported $3.6 Billion In Losses

Meta’s metaverse division lost over $3.6 billion in Q3 of 2022.

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Social media giant Meta’s Reality Labs metaverse division lost over $3.6 billion in the third quarter of 2022.

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In the previous quarter, the virtual reality division had reported a loss of $2.8 billion.

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Meta's Reality Labs has lost over $9.43 billion year-to-date.

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"We do anticipate that Reality Labs operating losses in 2023 will grow significantly year-over-year," the report noted.

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Reality Labs was launched in August 2020 as Meta’s virtual and augmented reality arm.

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Despite huge losses in the virtual reality division, Meta is committed to pour funds into it.

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Mark Zuckerberg continues to envision Metaverse as the next big thing.

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