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Until the Meta Quest 3 arrives, Reality Labs is only going to continue to hemmorage money. But the company's ad revenue is growing so strongly that it may not matter.
Reality Labs, Meta's metaverse-building department, has lost over $7.7 billion so far in 2023 with Meta saying those losses will continue through the year.
Analysts cheered Meta's results, pointing to improved ad targeting, increased Reels monetization and a payoff from cost-cutting efforts.
Is Facebook parent company Meta Platforms Inc (NASDAQ:FB) still a social media company, or is it now a virtual reality enterprise? Perhaps a burgeoning...
Analysts cheered Meta’s results, pointing to improved ad targeting, increased Reels monetization and a payoff from cost-cutting efforts.