Meta’s metaverse business continues to lose billions of dollars

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    the entire side pivot metaverse not going according to plan for meta and Mark ZuckerbergLast year Meta reported: meta reality lab The division lost nearly $13 billion. There is no good news in the recently announced quarterly results. The company’s earnings release said the meta-reality division posted an operating loss of nearly $4 billion in the first quarter.

    Less loss than last quarter

    The company lost a relatively small amount of money compared to the corresponding quarter last year, according to figures revealed by Meta. In Q1 2022, Meta posted his $4.28 billion loss, now he’s $3.99 billion. Meta Reality Labs’ earnings brought him nearly $339 million. One of the biggest revenue drivers right now is the Quest line of headsets. Meta slashed the price of its headset last month. However, according to a CNBC report, sales of VR headsets fell by 2% in 2022.
    Meta CEO Mark Zuckerberg is confident in the Metaverse as the company plans to invest more in the space. rice field. “There’s been talk unfolding that we’re somehow moving away from focusing on the Metaverse vision, so I just want to say up front that it’s not accurate,” he told investors.
    He said, “Building the Metaverse is a long-term project, but the rationale remains the same and we remain committed to it.”
    Zuckerberg also confirmed that Meta will launch new virtual and mixed reality devices for consumers later this year. “At this point, we launched Quest 2 almost three years ago. I’m really excited to show the world at an affordable price,” he added.


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