Meta Reality Labs metaverse division has lost $18 billion since 2020

The metaverse is very, very expensive; Facebook's Reality Labs division has posted operational losses of $18 billion since 2020.

@DeekeTweak
Published Jul 28, 2022 2:46 PM CDT

Meta's new Q2 earnings show another consecutive billion-dollar loss for its metaverse division.

Meta Reality Labs metaverse division has lost  billion since 2020 2 | TweakTown.com
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Meta's Reality Labs segment has been posted billion-dollar operational losses for many quarters in a row as the social titan ramps up its metaverse endeavors. The division, which includes development of its Oculus VR headsets and its Horizon metaverse platform, is costing Meta big and its digital ecosystem ambitions are very, very expensive.

Meta Reality Labs metaverse division has lost $18 billion since 2020 1 | TweakTown.com

According to earnings data from Meta that was compiled by us, Reality Labs has lost over $18 billion in operating income since Q4 2020. Remember that Meta bought Oculus back in 2014, and released the first Oculus Rift in 2016, so these billion-dollar losses likely stretch back for many more years before the October - December 2020 period.

Meta's Reality Labs posted a $2.8 billion operating loss for Q2 2022 on $452 million in revenues. The company is using its incredibly powerful advertising engine (ads made $28 billion in Q2 2022) to fund its metaverse plans.

Meta Chief Financial Officer Dave Wehner confirmed that the company will be "increasing investment" into Reality Labs.

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Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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