Meta's metaverse division Reality Labs reported a loss of $4.48 billion in the second quarter of this year

2024-08-01 08:08:26
Collection

ChainCatcher news, according to CNBC, Meta announced its Q2 2024 financial report on Wednesday, showing a revenue of $39.07 billion for the second quarter of this year, exceeding market expectations of $38.3 billion and up from $31.999 billion in the same period last year. Meanwhile, the company's metaverse division, Reality Labs, reported an operating loss of $4.48 billion, with analysts expecting a loss of $4.55 billion, compared to a loss of $276 million in the same period last year.

Since the end of 2020, Reality Labs has accumulated losses of approximately $50 billion. Revenue for Reality Labs primarily comes from the Quest series VR headsets and Ray-Ban Meta smart glasses, generating $353 million, a 28% increase from $276 million in the same period last year. Meta's revenue for Q2 this year was $39.07 billion, exceeding market expectations of $38.3 billion and up from $31.999 billion in the same period last year. Meta stated that it still expects losses for the Reality Labs division in 2024.

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.
banner
Mention the project
ChainCatcher Building the Web3 world with innovators