Steep Losses from Meta's Reality Labs are Declining
Dow Jones
5 hours ago
1634 ET - Losses from Reality Labs, Meta's virtual and augmented reality division, are declining but remain high in absolute terms. The company projects that the division will turn a loss this year of between $18 billion and $19 billion, with that loss expected to narrow to around $15 billion in 2027. The division, once the centerpiece of CEO Mark Zuckerberg's long-term vision for the company, had around 10% of its staff laid off earlier this year as part of the company's pivot toward AI. "We remain focused on improving Reality Labs profitability and expect losses to narrow next year to around $15 billion as we reallocate investment toward other priority areas, primarily AI," the company says.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.