Meta's Reality Labs Faces $4.4 Billion Loss In AR/VR Sector
Portfolio Pulse from Franca Quarneti
Meta Platforms Inc.'s Reality Labs reported a $4.4 billion loss in Q3 2024, marking the third consecutive quarterly loss. Despite this, revenue increased by 29% due to strong hardware sales. Meta plans significant investment in Reality Labs, expecting higher losses in 2024.
November 01, 2024 | 5:11 pm
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Meta's Reality Labs reported a $4.4 billion loss in Q3 2024, despite a 29% revenue increase from hardware sales. The division is a strategic priority, with significant investments planned, leading to expected higher losses in 2024.
The $4.4 billion loss in Reality Labs, despite revenue growth, indicates financial strain. Meta's commitment to further investment suggests continued high expenses, likely impacting short-term stock performance negatively.
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