Meta Reports $3.7 Billion Loss in Third Quarter in Metaverse-Focused Division

In a recent quarterly analyst call, Susan Li, the chief financial officer at Meta, announced that the company’s metaverse-focused Reality Labs division experienced a loss of $3.7 billion in the third quarter. Despite generating approximately $210 million in revenue, a decrease of 26% due to lower Meta Quest 2 sales in anticipation of the Meta Quest 3 virtual reality headset launch in October, the division’s expenses remained flat year over year, standing at $4 billion.

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