Meta’s Reality Labs reports revenue of $1B, losses of $4.6B

Meta’s metaverse division is still raking in losses but managed to impress with revenue last quarter.

Reality Labs, the company’s metaverse-focused team, notched losses of roughly $4.6 billion, though the unit took in revenue of over $1 billion. 

To put that figure into perspective, Reality Labs reported revenue of $727 million in the same period a year earlier. 

The company attributed the third-quarter revenue to sales of the Quest 3 — its newest virtual reality headset — during the holiday season.

For the 12-month period ending Dec. 31, the unit reported losses totaling $16.1 billion.

“We’ve made a lot of progress on our vision for advancing AI and the metaverse,” CEO…

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