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Meta's Reality Labs is losing multiple billions of dollars per quarter and revenue is dropping.
by sp332 3y ago
Meta's Reality Labs is losing multiple billions of dollars per quarter and revenue is dropping.
- dangus 3y agoI don’t think Reality Labs did as well as they thought it would, but they built a $2 billion annual revenue business and can probably cut R&D once the technology is mature. At the end of it they’ll be in a duopoly with Apple with both companies controlling all the software royalties for the major popular AR platforms.
- sp332 3y agoRevenue in the virtual reality and augmented reality division dropped 26% from $285 million a year earlier to $210 million. https://www.cnbc.com/2023/10/25/metas-reality-labs-loses-3point7-billion-in-third-quarter.html https://www.cnbc.com/2023/10/25/metas-reality-labs-loses-3po...
- rchaud 3y agoYikes. $210m revenue on a $4bn loss. Even I could put together a million dollar business if I was allowed to lose $20m doing it.