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Meta’s Reality Labs posts $4.5 billion loss in second quarter
Meta's virtual reality and augmented reality focused Reality Labs unit recorded an operating loss of $4.48 billion in the second quarter.
A visitor wears a virtual reality headset Meta Quest as he takes part in an immersive experience stand during the Viva Technology show at Parc des Expositions Porte de Versailles on May 24, 2024 in Paris, France. Since late 2020, the Reality Labs unit has generated cumulative losses of about $50 billion, underscoring CEO Mark Zuckerberg's massive investments into the hardware and software that underpins what he says will be the next era of personal computing. Earlier in July, Francesco Milleri, the CEO of Ray-Ban parent EssilorLuxottica, told analysts that Meta plans to become a shareholder in the European eyewear maker, expanding on a previous partnership between the two companies dating back to 2020.
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