Meta's Reality Labs records $3.99 billion quarterly loss as Zuckerberg pumps more cash into metaverse
Publishing timestamp: 2023-04-26 20:12:46
Summary
Meta's Reality Labs unit had a $3.99 billion operating loss in the first quarter, continuing a trend of losses in the VR and AR technologies for the metaverse. Despite cost-cutting measures, the company is still investing heavily in the metaverse while facing challenges in the online ad market.
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Keywords: internet, technology, meta platforms inc, business news, mark zuckerberg, mobile, social media, breaking news: technology,