Meta's Metaverse Division Lost $4B in Q1
Main page News, Metaverse

The operating loss for the first quarter of the year of Meta's metaverse-related division Reality Labs amounted to $3.99 billion.

At the end of the reporting period, the company reported net earnings of $5.71 billion.

Reality Labs' total losses for the past year amounted to $13.7 billion.

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During a conference call with analysts, Meta CEO Mark Zuckerberg has warned he expects the unit's negative financial performance to continue for the full year.

The corporation's positive profitability has been provided by the artificial intelligence division.

Zuckerberg has explained:

"Our AI work is driving good results. [...] Metaverse technology will also help in the creation of AI-based products. For example, the incarnation of AI agents will leverage the investments made in avatars in recent years."

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