Meta's Q4 2024 earnings report revealed Reality Labs suffered a staggering loss of $4.97 billion, contributing to an overall $60 billion deficit since launch. Nonetheless, the company reported total revenues of $164.50 billion, marking a 22% increase year-over-year. CEO Mark Zuckerberg maintains a positive outlook for the metaverse, asserting that its technologies will see substantial development. He emphasizes that generative AI and technical challenges are factors behind the losses, yet highlights an increasing user base for Meta's VR platforms, Quest and Horizon, as integral to its future success.
Reality Labs recorded a loss of $4.97 billion in Q4 2024 while generating $1.1 billion in sales, totaling a reported $60 billion loss since its inception.
Mark Zuckerberg remains optimistic despite Reality Labs' losses, stating that 2024 will be pivotal for the metaverse with growing use of Quest and Horizon.
Zuckerberg attributed ongoing losses to Reality Labs being a technical organization with higher costs, reflecting on the expansive investments in AR and VR technologies.
In Q4 2024, Meta's overall revenue reached $164.50 billion, signaling a 22 percent year-on-year rise despite the substantial losses from Reality Labs.
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