All Stories Tagged: Facebook Reality Labs

Meta continues to see substantial losses from the Reality Labs division.

Facebook and Meta are set to show off their latest efforts in VR hardware and applications when the Meta Connect presentation returns this month.

Facebook continued its trend of losing money on Reality Labs in its latest quarter.

Meta's Reality Labs division continues to be one of the largest cash sinks for the company in its latest fiscal year.

Meta expects Reality Labs to keep losing money, but sees long-term benefits.

After an almost decade-long stint with the former Oculus, the id Software founder is leaving Meta. (Updated with John Carmack's full statement, which provides some much-needed context.)

In a letter released by Mark Zuckerberg, the CEO said the cuts were because 'revenue outlook is lower' and a push to operate more efficiently.

Mark Zuckerberg confirmed in Meta's Q3 2022 earnings results and conference call that the next consumer-oriented Meta Quest HMD is in development.

The company anticipates Reality Labs operating losses in 2023 to "grow significantly year-over-year."

Meta came out ahead of expectations on total revenue, but it fell short on EPS as the company continues to invest deeply in VR and the metaverse.