In six months, Meta* lost $5.76 billion on its XR division

Meta* has released a fresh financial report, in which, among other things, it told about the losses of Reality Labs. According to the corporation, the losses of the XR division for the first half of 2022 amounted to $5.76 billion — 35.4% more than a year ago.

However, the revenue of Reality Labs increased by 33%, reaching $ 1.1 billion. But Meta* expects the division’s revenue to fall in the third quarter.

*The company’s activities are prohibited on the territory of the Russian Federation.

Write a comment...
Related news