Meta’s Reality Labs has now lost more than $21 billion since the beginning of last year
Publishing timestamp: 2023-07-26 20:19:47
Summary
Meta's Reality Labs unit reported a $3.7 billion operating loss on $276 million in sales during the second quarter. Despite this, Meta's shares were up 5% after reporting an 11% increase in revenue. The company announced a VR subscription service called Meta Quest+ for $7.99 a month and revealed pricing details for the Quest 3 headset. The Reality Labs unit is expected to continue to incur significant operating losses due to ongoing product development efforts.
Sentiment: MIXED
Keywords: mobile, social media, technology, internet, business news, quest diagnostics inc, breaking news: technology, meta platforms inc,
Source: https://www.cnbc.com/2023/07/26/metas-reality-labs-has-now-lost-more-than-21-billion.html