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

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Meta, the social community previously referred to as Fb that’s undoubtedly going to rename itself Fb in a number of years, has introduced that its metaverse division has made an enormous loss, once more, regardless of final 12 months’s gorgeous addition of legs to avatars. The VR and metaverse division, Meta Actuality Labs, misplaced $4.279 billion within the fourth quarter (in comparison with a mere $3.304 billion in the identical quarter final 12 months), with income of $727 million ($877 million a 12 months in the past).

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The Actuality Labs division was once referred to as the Oculus division, earlier than Meta determined it did not like that identify, and is now the umbrella beneath which each VR and the broader metaverse venture is accounted for. This was the quarter that noticed Meta improve the value of the Quest 2 headsets by $100, and launched the ludicrously priced Meta Quest Professional headset ($1500), which explains among the income dip. However the actual headline is that Meta does not care about these losses, seeing the metaverse venture as its long-term future somewhat than the present cash pit it’s.

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