Meta doesn't have a lot of good answersįor right now, it doesn't sound like Meta has a lot of good answers for shareholders upset at the big spending, either. "Infrastructure-related" expenses are also expected to play an even bigger role. Alongside its announcement of a new consumer Meta Quest headset for next year and expenditures related to that, Meta said it expected the division's operating losses to grow "significantly". Put simply, Meta's VR and metaverse eforts are bringing in very little money compared to how much money Meta is spending on them.Īnd it's prepared to spend even more. But revenue for the Reality Labs segment alone was only $285 million, meaning Facebook's "Family of Apps" division (which deals with Facebook, Instagram, and the like) largely carried the company.
Overall company revenue was $29 billion for the quarter, down only 4% year over year. Notably, though, this doesn't seem to be directly tied to a massive drop in revenue.
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