Meta’s Reality Labs posts $4.5 billion loss in second quarter
Publishing timestamp: 2024-07-31 20:12:46
Summary
Meta's Reality Labs unit, which houses its metaverse technologies, recorded an operating loss of $4.48 billion in the second quarter. Despite revenue growth, the unit has generated cumulative losses of about $50 billion since late 2020. Meta's ambitious plans for the metaverse continue to cost the company billions of dollars each quarter.
Sentiment: MIXED
Keywords: breaking news: technology, mark zuckerberg, apple inc, social media, internet, mobile, business news, technology, meta platforms inc,
Source: https://www.cnbc.com/2024/07/31/metas-reality-labs-posts-4point5-billion-loss-in-second-quarter.html