Meta reports Reality Labs Q3 revenue of $470M vs. $316M est., and a $4.4B operating loss vs. $5.1B est.; Reality Labs has lost $70B+ since 2020 (Jonathan Vanian/CNBC)
NegativeArtificial Intelligence

Meta's Reality Labs reported a revenue of $470 million in Q3, surpassing estimates of $316 million, but the division also faced a staggering operating loss of $4.4 billion, better than the anticipated $5.1 billion. Despite the revenue growth, Reality Labs has accumulated losses exceeding $70 billion since 2020, raising concerns about the long-term viability of Meta's investments in virtual and augmented reality. This news is significant as it highlights the challenges Meta faces in its ambitious tech ventures, which could impact its overall financial health and strategic direction.
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