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During the company\u2019s Q4 earnings call, Meta CEO Mark Zuckerberg was unwavering in his metaverse plans, despite unprecedented losses for Reality Labs.\u00a0<\/strong><\/em><\/p>\n Meta is pursuing its metaverse plans<\/a> despite Reality Labs losing $13.7 billion in 2022. Reality Labs is Meta\u2019s metaverse arm of the business, and focuses on virtual reality and augmented reality. Additionally, Reality Labs is building platforms like Horizon Worlds.<\/p>\n In essence, Meta still believes that the investment in Reality Labs will pay off in the future. During the call, Zuckerberg said:\u00a0\u201cNone of the signals that I\u2019ve seen so far suggest that we should shift the Reality Labs strategy long term.\u201d<\/p>\n Currently, Meta\u2019s Reality Labs is losing money. During the fourth quarter, the division lost $4.3 billion. In fact, this is the largest quarterly loss for the division to date.\u00a0<\/p>\n Despite this reality, Meta\u2019s chief financial officer, Susan Li, believes that the future is bright for Meta\u2019s Reality Labs. Furthermore, Li expects further losses for the business.<\/p>\n She said:\u00a0\u201cWe still expect our full-year Reality Labs losses to increase in 2023, and we\u2019re gonna continue to invest meaningfully in this area given the significant long-term opportunities that we see.\u201d<\/p>\n There are still reasons to be cheerful for Meta. Indeed, Meta\u2019s overall revenue for the fourth quarter was $32.1 billion.\u00a0<\/strong><\/p>\n Consequently, Meta\u2019s stock price is rising again<\/a>, and has jumped up around 40% in since Meta\u2019s quarterly earnings call.\u00a0<\/p>\n Zuckerberg is also planning to unveil a new \u201cnext generation consumer headset\u201d later in 2023<\/a>. Currently, Meta\u2019s latest VR headset offering is the Meta Quest Pro.\u00a0<\/p>\n The Meta Quest Pro offers new features like mixed reality with full-colour video feed, and face tracking via inward cameras.\u00a0<\/p>\n At present, Reality Labs is showing no signs of slowing down and is fully committed to its vision for the future of the internet.\u00a0<\/p>\n<\/div>\nHarsh reality<\/strong><\/h2>\n
Meta fights back<\/strong><\/h2>\n
Meta\u2019s new headset<\/strong><\/h2>\n