In 2022, the Metas VR division lost $14 billion

In 2022, the Metas VR division lost $14 billion ...

Meta has released their official financial reports for the first twelve months of 2022, which reflect another significant loss for the VR division.

The company's revenue was $116 billion, compared to $11 billion the year before, while net income was $23 billion, down 41% from the previous year.

Revenue was $32 billion (-3% year on year) and net income was $4.6 billion (-54% year on year).

The operating losses for Reality Labs, which deals with virtual reality, were $2.1 billion in 2022 (-5% year on year), and $727 million in the fourth quarter (-17% year on year).

The Meta Quest Pro headset was released in October 2022.

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

Revenue projections for the first quarter of 2023 range from $26 billion to $29 billion.

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