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Meta’s Reality Labs posts $4.4 billion loss in third quarter
Meta's Reality Labs unit, which develops augmented and virtual reality technologies, logged an operating loss of $4.4 billion in the third quarter.
Despite Meta's successful showcase of its Orion prototype AR glasses in September, the social media giant continues to lose billions of dollars a quarter developing the still nascent metaverse. Facebook co-founder and Meta CEO Mark Zuckerberg believes developing VR and AR technology could position the company to become a leader in what could become the next major personal computing platform. Facebook co-founder and Meta CEO Mark Zuckerberg believes developing VR and AR technology could position the company to become a leader in what could become the next major personal computing platform.
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