Meta lost more than 4 billion dollars on the metaverse in the last financial quarter

VR zuckerberg with VR friends.


Meta, the social network formerly known as Facebook that is definitely going to rename itself Facebook in a few years, has announced that its metaverse division has made a huge loss, again, despite last year’s stunning addition of legs to avatars. The VR and metaverse division, Meta Reality Labs, lost $4.279 billion in the fourth quarter (compared to a mere $3.304 billion in the same quarter last year), with revenue of $727 million ($877 million a year ago).

The Reality Labs division used to be known as the Oculus division, before Meta decided it didn’t like that name, and is now the umbrella under which both VR and the wider metaverse project is accounted for. This was the quarter that saw Meta increase the price of the Quest 2 headsets by $100, and launched the ludicrously priced Meta Quest Pro headset ($1500), which explains some of the revenue dip. But the real headline is that Meta doesn’t care about these losses, seeing the metaverse project as its long-term future rather than the current money pit it is.



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