Meta’s Metaverse Division Lost Billions in Q2 of 2022

Meta’s metaverse division, Facebook Reality Labs, lost $2.81 billion in Q2 of 2022. Mark Zuckerberg is still confident that the division will eventually be worth trillions.

Metau2019s quarterly earnings call has concluded that the companyu2019s metaverse division, u2018Facebook Reality Labsu2019 (FRL) lost $2.8 billion in Q2 of this year.

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More specifically, the report, which was issued yesterday afternoon, attached a $2.81 billion figure to FRLu2019s losses. Overall, such figure puts the divisionu2019s year-to-date losses at a staggering $5.77 billion. 

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Although Meta is overtly experimenting with adding Web3 elements to its Facebook and Instagram subsidiaries, FRL is in-fact a completely separate entity, as instead, the division has a focus on building the hardware, software, and any other content that is central to the companyu2019s push into the metaverse. 

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Despite such seemingly daunting figures, Metau2019s infamous CEO Mark Zuckerberg is remaining optimistic with respect to the companyu2019s eventual dominance over the u2018metaverseu2019 industry – something he explicitly set out to do when renaming Facebooku2019s name to Meta last year. Conclusively, Zuckerberg thinks that the companyu2019s relentless investment and developments in such sectors will u201cunlock hundreds of billions of dollars, if not trillions, over timeu201d.  

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