Facebook parent company Meta has released its latest earnings report, and while the company made many billions of dollars in profit, not every business unit at the technology giant is profitable.
The company’s Reality Labs division–which comprises virtual and augmented reality consumer hardware, software, and content–continued to be a sore spot for Meta. For the quarter that ended on December 31, Reality Labs recorded revenue of $955 million, down from $1.083 billion during the same period last year. Income for the quarter was non-existent–Reality Labs posted quarterly loss of $6.021 billion.
For the full year, Reality Labs pulled in revenue of $2.207 billion, which was an increase from the previous year’s $2.146 billion. However, the increased revenue did not lead to increased profit. Instead, Reality Labs booked a $19.193 billion loss for the full year, compared to a loss of $17.729 billion during the previous year.
