Reality Labs continues to lose money as product development continues.
While Facebook (META) reported beats on its revenue and EPS expectations for Q4 2023, the social media juggernaut continues to lose money on Facebook Reality Labs and doesn’t expect that trend to change going forward.
During the entirety of 2023, Facebook Reality Labs lost $16.12 billion on $1.896 billion in sales. During Q4 2023, Reality Labs lost $4.646 billion, an increase from the $3.742 billion the company lost on Reality Labs during Q3 2023. The company stated in its earnings report that it expects these losses to continue.
For more information on Facebook’s Q4 2023 earnings, stick right here with Shacknews.
Bill, who is also known as Rumpo, is a lifelong gamer and Toronto Maple Leafs fan. He made his mark early in his career through guide writing and a deep understanding of editorial SEO. He enjoys putting in the work to create a great content, be it a wild feature or grinding out an in-depth collectible guide. Tweet him @RumpoPlays if you have a question or comment about one of his articles.
