HomeUncategorizedMeta Q2 earnings: Reality Labs losses top $7.7B year to date By Cointelegraph

Meta Q2 earnings: Reality Labs losses top $7.7B year to date By Cointelegraph

July 27, 2023

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© Reuters.

Meta’s metaverse-related losses topped $3.74 billion over the second quarter with the Big Tech player spending $7.7 billion on its virtual reality business so far in 2023.

Its second-quarter 2023 results released on July 26 saw Meta report an 11% revenue gain compared to the same quarter last year, totaling $31.9 billion.

Meta’s segment results in millions since Q2 2021 with added highlights on Reality Labs’ Q2 2023 revenue and operating losses. Source: Meta
Meta’s stock price spiked to over $320 in after-hours trading on July 26. Source: Google (NASDAQ:) Finance