A demo in the interactive space of the Meta Store.
A demo in the interactive space of the Meta Store.
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Meta’s Reality Labs loses $2.96B on $695M in revenues in Q1 VR results

  • Posted byby Dean Takahashi
  • Updated
  • 1 min

Meta’s first-quarter results showed us that Mark Zuckerberg’s vision of the metaverse is very expensive. And its losses are widening even as its VR hardware and software sales grow.

Meta has started breaking out its results from its Reality Labs division, (former known as Facebook’s Oculus division) to give investors a sense of how much it is investing in the next version of the internet.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.