Quest 3 drove Meta Reality Labs to achieve both record revenue and record costs in Q4. - Road to VR
Quest 3 Pushed Meta Reality Labs to Record Revenue in Q4, But Also Record Costs
Meta's XR division, Reality Labs, has experienced a successful fourth quarter in terms of revenue, surpassing $1 billion for the first time. However, they also incurred record costs, resulting in a $4.65 billion loss. The increase in revenue was driven by the sales of Quest 3, the latest VR headset. They also announced that EssilorLuxottica will manufacture more Ray-Ban Meta smartglasses to meet the demand. Despite the positive results, Meta expects significant losses in the coming years due to continued investments in the XR space. For more details, visit the source at Road to VR.
Source: https://www.roadtovr.com/reality-labs-revenue-q4-2023/