In 2022, Meta's VR division will lose $14 billion

In 2022, Meta's VR division will lose $14 billion ...

Meta has released its official financial statements for the first twelve months of 2022, which reveal yet another huge loss from the VR division. You can imagine how much money it has burned.

In general, the company's revenues were $116 billion, 1% lower than they were in the previous year, and net income was $23 billion, down 41% year over year.

Revenues were $32 billion in the fourth quarter (-3% year over year) while net income was $4.6 billion (-54 percent year over year).

Reality Labs, a virtual reality company, reported $2.1 billion in 2022 (-5% year over year), while Q4 revenues were $727 million (-17% year over year). The operating loss was enormous, considering that we are talking about 14 billion dollars in the entire year (13.7 billion, to be more precise).

Meta Quest Pro is a viewer which was launched in October 2022.

Facebook's monthly active users increased by 2% year over year, while daily users increased by 4%. Facebook has two billion active users every day.

The revenues for the first quarter of 2023 are expected to be between 26 and 29 billion dollars, according to the report.

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