Facebook’s parent company, Meta, made a lot of money in its last financial quarter. However, its virtual reality and augmented reality division, Reality Labs, lost over $3 billion. That means that ...

Despite producing one of the best VR headsets around, the Quest 3, Meta's Reality Labs division just isn't making any money. Nearly $2 billion of revenue in 2023 was completely swallowed by $18 ...

Add Yahoo as a preferred source to see more of our stories on Google. Mentions of the "metaverse" were relatively few and far between in Meta's quarterly earnings call this week — we counted a mere ...

Meta CTO Andrew Bosworth said that cuts to the company's VR efforts were "a real loss." Bosworth said Meta was still "bullish" on VR, but that the company's investment had to "match the size of growth ...

Meta (formerly Facebook) has posted its earnings results for the most recent fiscal quarter, and Q1 2024 was mostly good news for the company’s finances. However, it wasn’t all good news. As is often ...

Meta plans layoffs in Reality Labs, affecting the teams behind VR headsets and Horizon Worlds. The restructuring follows major financial losses and a strategic shift toward AI. Reality Labs faces ...

A consistent trend over the past several financial quarters for Meta has been continued losses from its Reality Labs division. The Facebook parent company's latest quarterly earnings released on ...