Meta's Reality Labs Faces $4.4 Billion Loss In AR/VR Sector

Quick Summary:

Meta Platforms Inc.'s (NASDAQ:META) third-quarter earnings show a $4.4 billion loss for its augmented and virtual reality division, Reality Labs, marking the third consecutive quarterly loss for the segment this year.

Revenue Increase Tied To Hardware Sales

Despite ongoing losses, Reality Labs reported a 29% revenue increase in the third quarter, totaling $270 million, driven by strong hardware ...

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Article Details

Author / Journalist: Franca Quarneti

Category: Technology

Markets: United States

Topics: News META Consumer Tech Benzinga Tech Augmented Reality Virtual reality Reality Labs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 17:11:53 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 239 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23365766

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