Zuckerberg unfazed about $2.8B metaverse division loss in Q2
“This is obviously a very expensive undertaking over the next several years,” said Mark Zuckerberg. Meta’s virtual reality (VR) and metaverse division Reality Labs has posted its seventh straight quarter of losses, but CEO Mark Zuckerberg remains steadfast in investing in the technology, which he calls a "massive opportunity.During Meta’s Q2 earnings call on July 27, Zuckerberg acknowledged that such losses could continue for several more years until VR applications and its Metaverse platform are mature enough to tap into the “massive opportunity” worth “hundreds of billions of dollars”....
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Meta’s Reality Labs division posted a $2.9 billion loss in Wednesday’s Q1 earnings call but Zuckerberg remains optimistic about future profitability from the metaverse. Meta Platforms Inc., formerly known as Facebook Inc., posted its Q1 2022 earnings on Wednesday, with its Metaverse-focused Reality Labs division posting increased losses.The Reality Labs division — formerly known as Facebook’s Oculus division — has been spending increasing sums of capital on developing virtual reality and metaverse-related products, posting a $2.9 billion loss for Q1 2022. That's 61% more than its $1.8....
Mark Zuckerberg, CEO of Meta, formerly Facebook, has shared how the metaverse will be a key part of his business and bring hundreds of billions of dollars in revenue. “Our playbook over time has been build services, try to serve as many people as possible,” said Zuckerberg.
Mark Zuckerberg on the Metaverse
Mark Zuckerberg, the CEO of Meta Platforms, formerly Facebook, talked about the metaverse in an interview on Wednesday with Jim Cramer, the host of CNBC’s Mad Money.
The Facebook co-founder explained that he expects the metaverse to be....
Meta (formerly Facebook) officially declared its entry into the metaverse space last year with the Reality Labs division. Its announcement had understandably triggered the popularity of metaverse projects and their tokens during this time, as a lot went on to rally to billions of dollars in market cap. However, while Meta had been able to trigger positive growth for other metaverse projects, it has been unable to do so for itself as it reports another quarter of massive losses. Meta’s Reality Labs Records Losses Since Meta’s entry into the space via its Reality Labs division, the tech....
Meta CEO Mark Zuckerberg has decided to overhaul the company’s flagship metaverse app Horizon Worlds after it received heavy criticism due to its graphic simplicity. The backlash was received as a consequence of one of the selfies of Zuckerberg’s avatar in Horizon Worlds presented to illustrate the launch of the platform in Spain and France.
Horizon Worlds to Get Graphics Overhaul
Mark Zuckerberg, CEO of Meta, a social media and VR company, announced that a series of changes are coming to Horizon Worlds, Meta’s metaverse-focused app, to make it more immersive....
No one said the shift to web3 would be easy. That’s certainly the sentiment at Meta, which saw drops in sales and profits in their quarterly earnings announcement this week. Reality Labs, the tech-driven division of the company that is focused on VR and AR hardware and software and other metaverse-related verticals, posted a loss […]