Losses from Mark Zuckerberg’s Metaverse reach $3.7 billion, 39.5% more than in 2021

Losses from Mark Zuckerberg’s Metaverse reach $3.7 billion, 39.5% more than in 2021

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Platforms based on the Metaverse have been a constant bet, which have had investments of billions of dollars despite that interest in them don’t be too tall. This is how we have seen that even some specialists in the field have come to believe that these will die between now and the year 2025.

You can read: Despite being worth $13 billion, the Metaverse would close its doors in 2025

A situation that can also be corroborated in part with the losses of one of the companies that immediately comes to mind when we mention the Metaverse. We are clearly talking about Meta, who according to their financial results for fiscal year 2022 show, are losing a lot of money.

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This is because the brand’s Reality Labs division, which includes the company known as Oculus, as well as various game studios and other VR/AR hardware projects, has lost $3,670 for the quarter ending September 30, 2022. million dollars and only made $285 million in revenue during that period.

Something that had been seen during the past year but on a smaller scale, when in the same period Reality Labs lost $2.6 billion and made $558 million in revenue, which means that Mark Zuckerberg’s metaverse losses have increased by 39.5 % percent, while their income has dropped by 48%.

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Reality Labs CFO David Wehner indicated that the company expects operating losses to “grow significantly year-over-year in 2023.”

“Beyond 2023, we expect to accelerate Reality Labs’ investments such that we can achieve our long-term goal of increasing the company’s overall operating income,” Wehner added.

Still, this doesn’t mean the entire company is actually losing too much money, as Meta’s gargantuan ad revenue numbers are in its favour, hitting $27 billion this quarter.

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Losses from Mark Zuckerberg’s Metaverse reach $3.7 billion, 39.5% more than in 2021