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Meta's Reality Labs recorded a $3.85 billion loss in the first quarter of 2024. The Q1 revenue for Reality Labs saw a 30% increase to $440 million, driven by Quest headset sales. Expenses were up 4% YoY due to higher headcount-related costs, partially offset by other factors. The revenue for Reality Labs has been gradually increasing, although still below the levels of 2021 and 2022. Meta released both Quest 3 and Meta Smart glasses in Q4 2023. Facebook, under the $META ticker, has reported a total net loss of $45.98 billion in its Metaverse Reality Labs segment, with celebrations for 10 years of metaverse and AI work at Reality Labs in April 2024.
Facebook $META has now reported a cumulative Net Loss of $45.98 Billion in its Metaverse Reality Labs segment What is Metaverse Reality Labs Facebook is celebrating 10 years of metaverse and AI work at Reality Labs in April 2024 - Otherwise known as “RL Research”, Meta Reality… https://t.co/0SfggfeNKV
Reality Labs revenue is up ~30% in Q1 YoY. Losses stay similar. Revenue still way below 2021 / 2022 levels. Both Quest 3 and Meta Smart glasses released in Q4 2023. Reality Labs Q1 Revenue (Loss) in millions Q1 2021 534 (1,827) Q1 2022 695 (2,960) Q1 2023 339 (3,992) Q1 2024…
Reality Labs revenue is up ~30% in Q1 YoY. Losses stay similar Both Quest 3 and Meta Smart glasses released in Q4 2023. Reality Labs Q1 Revenue (Loss) in millions Q1 2021 534 (1,827) Q1 2022 695 (2,960) Q1 2023 339 (3,992) Q1 2024 440 (3,846) Source: https://t.co/DQKZfMX6mS