In its first full year as a separate business, Meta's Reality Labs unit racked up costs, closing with a $13.7 billion operating loss in the fourth quarter.
said its Reality Labs division, home to the company's virtual reality technologies and projects, lost $4.28 billion in the fourth quarter, bringing its total operating loss for 2022 to $13.72 billion.
and said its future would be in the metaverse, a digital universe where people will work, shop, play and learn.Reality Labs generated $727 million in the fourth quarter, and $2.16 billion in revenue for all of 2022 Analysts were expecting Reality Labs to record an operating loss of $4.36 billion in the fourth quarter on revenue of $715.1 million, according to StreetAccount.s in the U.S. declined 2% in 2022 from the prior year as of early December, according to data shared with CNBC by research firm NPD Group.
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