Meta reported that it lost $3.7 billion in the third quarter in its metaverse-focused Reality Labs division.
In its quarterly analyst call, Susan Li, chief financial officer at Meta, said the company had about $210 million in revenue in the quarter, down 26% due to lower Meta Quest 2 sales in advance of the October launch of the Meta Quest 3 virtual reality headset. Expenses were $4 billion, or flat year over year.
Unlock premium content and VIP community perks with GB M A X! Join now to enjoy our free and premium perks.
Join now →
Sign in to your account.