{"id":10368,"date":"2024-02-02T10:31:53","date_gmt":"2024-02-02T08:31:53","guid":{"rendered":"https:\/\/forklog.com\/en\/reality-labs-posts-4-7-billion-loss-for-meta\/"},"modified":"2024-02-02T10:31:53","modified_gmt":"2024-02-02T08:31:53","slug":"reality-labs-posts-4-7-billion-loss-for-meta","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/reality-labs-posts-4-7-billion-loss-for-meta\/","title":{"rendered":"Reality Labs Posts $4.7 Billion Loss for Meta"},"content":{"rendered":"<p>The operating loss for Meta&#8217;s metaverse division, Reality Labs, amounted to <a href=\"https:\/\/investor.fb.com\/investor-news\/press-release-details\/2024\/Meta-Reports-Fourth-Quarter-and-Full-Year-2023-Results-Initiates-Quarterly-Dividend\/default.aspx\">$4.67 billion<\/a> for the period from October to December 2023.<\/p>\n<p>This figure marks a record since the business unit&#8217;s inception in the fourth quarter of 2020.<\/p>\n<p>Revenue for the latest reporting period rose to $1.07 billion. For comparison, it was $210 million in the third quarter and $727 million in the fourth quarter of 2022.<\/p>\n<p>Overall, for 2023, the division reported:<\/p>\n<ul class=\"wp-block-list\">\n<li>a net loss of $16.1 billion (compared to $13.7 billion the previous year);<\/li>\n<li>an operating loss of $16.1 billion (up 17.5% year-on-year);<\/li>\n<li>revenue of $1.9 billion (compared to $2.16 billion in 2022).<\/li>\n<\/ul>\n<p>During a <a href=\"https:\/\/cointelegraph.com\/news\/meta-metaverse-divison-records-1b-revenue-4b-loss-earnings\">conference with analysts<\/a>, the company&#8217;s <span data-descr=\"Chief Financial Officer\" class=\"old_tooltip\">CFO<\/span> Susan Li expressed expectations of a &#8220;significant year-over-year increase&#8221; in Reality Labs&#8217; losses. She attributed this to the development of <span data-descr=\"augmented reality\" class=\"old_tooltip\">AR<\/span> and <span data-descr=\"virtual reality\" class=\"old_tooltip\">VR<\/span> products and &#8220;investments in further scaling the ecosystem.&#8221;<\/p>\n<p>Meta&#8217;s founder and CEO, Mark Zuckerberg, linked the revenue growth to a &#8220;strong holiday season&#8221; and a &#8220;good start&#8221; for the Quest 3 VR headset, launched on October 10. According to him, on Christmas Day, the device&#8217;s related <span data-descr=\"application\" class=\"old_tooltip\">app<\/span> became the most downloaded in the app store.<\/p>\n<p>The top executive pledged to continue significant investments in AI and metaverse gaming, which are &#8220;core components of the corporation&#8217;s long-term vision.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;I still expect that the next generation of AR, VR, and mixed reality computing platforms will provide a realistic sense of presence, which will be the foundation for future social experiences,&#8221;<\/em> explained Zuckerberg.<\/p>\n<\/blockquote>\n<p>The company plans to launch multimodal artificial intelligence features in 2024. Meta&#8217;s CEO <a href=\"https:\/\/qz.com\/meta-q4-2023-earnings-metaverse-ai-1851218383\">stated<\/a> that consumers will desire new categories of devices that use AI today, without relying on a phone.<\/p>\n<p>In January, ForkLog reported on Meta&#8217;s plans to <a href=\"https:\/\/forklog.com\/en\/news\/meta-to-acquire-350000-nvidia-chips-for-ai-expansion\">acquire 350,000 H100 graphics processors<\/a> from Nvidia to advance artificial intelligence.<\/p>\n<p>In September 2023, the corporation introduced a set of AI tools, including a voice assistant, a neural network with various personalities, &#8220;smart glasses,&#8221; and a sticker generator.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The operating loss for Meta&#8217;s metaverse division, Reality Labs, amounted to $4.67 billion for the period from October to December 2023. This figure marks a record since the business unit&#8217;s inception in the fourth quarter of 2020. Revenue for the latest reporting period rose to $1.07 billion. For comparison, it was $210 million in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,1293,1353,1252],"class_list":["post-10368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-meta","tag-metaverses","tag-reports"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10368"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10367"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}