CEO says Meta remains “fully committed” to metaverse development.
Meta’s metaverse-related division Reality Labs posted $3.7 billion in operating losses in the second quarter of this year, its latest earnings results showed.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Meta’s metaverse-related division Reality Labs posted $3.
Susan Li, chief financial officer of Meta, said Reality Labs’ expenses amounted to $4 billion in the second quarter, “up 23% due to lapping a reduction in Reality Labs loss reserves in Q2 of last year as well as growth in employee-related costs.”
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