Meta Loses $3.7 Billion in Third Quarter in Metaverse-Focused Reality Labs Division

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Meta reported that he lost $3.7 billion In THE third quarter In It is metaverse focused Reality Laboratories division.

In It is quarterly analyst call, Suzanne Li, chief financial officer has Meta, said THE business had about $210 million In income In THE quarter, down 26% due has lower Meta Quest 2 sales In advance of THE October launch of THE Meta Quest 3 virtual reality helmet. Expenses were $4 billion, Or flat year on year.

In A little of non-news, Meta said that he waits has continue has lose money In It is Reality Laboratories division, according to has THE the company report on It is third quarter. Out of THE last 21 month, Reality Laboratories has lost about $24 billion.

"Finally, For Reality Laboratories, We to wait for Operating losses has increase in a significative way Year after year due has OUR in progress product development efforts In increase reality/virtual reality And OUR investments has further ladder OUR ecosystem, " Meta said In THE report For THE third quarter finished September 30.

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Generally, Zuckerberg said he was A GOOD quarter with THE The highest Operating margin In two years. THE quarter benefited Since lower Reality Laboratories Operating expenses.

THE business reported $34.1 billion In income For THE third quarter finished September 30, up 23% Since $27.7 billion A year There is. Net income was $11.6 billion, up 164% Since $4.4 billion A year there is.

Family every day active people was 3.14 billion on average For September, up 7% Since A year There is. Monthly active users were 3.05 billion, up 3% For Facebook.

Online advertisement And game were strong In part due has growth In China. A of THE the biggest investments THE business East manufacturing East In business AI.

Zuckerberg said THE business would be change resources towards AI far Since non-AI resources In THE business. He Also said THE business has A "hiring back," meaning he has has replace people Or add positions that were necessary but were not completed earlier because of A hiring freeze. It is not clear if that impacts a lot of THE Reality Laboratories expenses, which to focus on THE metaverse, virtual reality And clever glasses.

You can immerse yourself In worlds with THE Meta Quest 3.

Meta has about 66,000 employees NOW, down 7% Since THE second quarter And 24% Since A year there is.

"Generative AI will more and more be important going Before," Zuckerberg said.

He note there were more that 30 million Lama big language model downloads last month. Driven by AI food recommendations continue has to grow, with 7% increase In time spent on Facebook as A result. Topics East three month old And he has 100 million monthly active users And Zuckerberg said, "From What We can say, people love he SO far. If We keep has This...