In 2022, Meta* lost $13.7 billion on the XR division

Ambitions to create a metaverse are expensive for Meta*. In the latest financial report, the company reported that the losses of the Reality Labs division for 2022 amounted to $13.717 billion, which is 34.5% more than a year ago.

The revenue of the XR division amounted to $2.15 billion, which is 5% less compared to 2021.

Meta* expects Reality Labs to make losses by the end of 2023. According to the company, they will pay off in the long run.

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

Write a comment...
Related news