Meta’s Metaverse Division Reports 3rd Quarter Loss of Over $3.7B

Meta’s Facebook Reality Labs (FRL) division has reported a third-quarter loss of over $3.7 billion, making only $285 million, according to its earnings report released on Wednesday.

The FRL is responsible for the research and development of Meta’s augmented and virtual reality as well as metaverse operations.
The $285 million revenue for the quarter was a downgrade from the $558 million that they made last year.
The loss has been a follow-up of other previous losses going back quarter after quarter. So far this year, the FRl has seen losses of $9.4 billion, compared to $6.9 billion in the same period last year.
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