Meta’s VR division lost $3.3B on $877M in revenue in Q4

Meta (the company formerly known as Facebook) reported that its virtual reality game, app, and hardware business generated $877 million in revenue in the fourth quarter, up from $717 million a year earlier.

But it’s clear what the company means when it says VR is an investment, as the division lost $3.3 billion in the quarter, compared to a loss of $2.09 billion in the fourth quarter a year earlier.