a loss of $ 2.9 billion; This Metavar gift for Meta Company

The release of Meta’s first-quarter earnings report on Wednesday revealed that Reality Labs had a loss of $ 2.9 billion. Although the sector suffered heavy losses for Meta, Zuckerberg is optimistic about Metavar’s future profitability for the company.

According to the Kevin Telegraph, the meta-platform company formerly known as Facebook announced revenue for the first three months of the new year on Wednesday. According to published documents, the company’s laboratories, which focus on the development of Metavers and are known as Reality Labs, have caused great losses to the company.

Formerly known as Facebook’s Oculus, the division is already investing heavily in VR and Metaworce-related products, recording a loss of $ 2.9 billion in the first three months. The new year is new. In the first three months of last year, the sector lost $ 1.8 billion, an increase of 61 percent.

But despite the loss, total revenue in the clothing sector was higher than expected. In the first three months of this year, $ 695 million was earned from sales of items such as virtual reality headsets (VR) and Meta Portal hardware for the sector.

Read also: Develop a meta-strategy; Recommendations from Jeep Morgan experts for business in this area

Meta CEO Mark Zuckerberg said in an interview Wednesday that it is natural for the sector to be unprofitable, as most of Realty Labs’ activities are still focused on researching and developing a range of software and hardware products, such as Project Cambria.

Zuckerberg adds in this regard:

I know it is expensive to do this project, to build something that has not been built before, but it provides a new paradigm for our social computers and communication.
We expect to generate more revenue than others in this area and we also strive to make the development of our platforms a sustainable asset.

Meta’s financial statements released earlier this year show that Relite Labs lost about $ 10 billion to Meta last year. About $ 4 billion of these losses were spent on personnel and research and development.

Overall, the company’s total revenue for the first three months of 2022 is estimated at $ 27.9 billion, an increase of 6.9% over the company’s revenue last year, which is about $ 26.1 billion. This shows. The publication of the report for the first three months of this year was well received by the market, so that the price of meta shares in trading after working hours increased by about 18%.

The number of employees of Meta Company as of March 31 (April 11) is 77,805 people, which is an increase of 28% compared to last year, which shows that the company continues to grow.

Recently, in February, with the fall of $ 251 billion in the stock market value of Meta Company, was the largest daily decline in price in the history of the stock exchange. The reason for this drop in price was the reduction of about 1 million daily active users of this platform.

After a loss of $ 2.9 billion; Metavars’ current gift for Meta first appeared on Arzdigital.

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