Reality Labs experienced its lowest recorded revenue point before the launch of Quest 3. - Road to VR
Reality Labs Revenue Drops to Lowest Point on Record Ahead of Quest 3 Launch
Meta announced today that its Reality Labs XR division has experienced its lowest revenue on record in the third quarter. The drop in revenue comes just before the launch of Quest 3, leaving stakeholders wondering if the new hardware will have a positive impact. Meta reported a loss of 27% year-over-year, with Q3 2023 revenue reaching $210 million. Despite significant investments in Reality Labs, the division lost $3.74 billion in Q3 2023. However, Meta is anticipating a boost in revenue next quarter due to the launch of Quest 3 and the holiday shopping season. Full details can be found at the source, Road to VR.
Source: https://www.roadtovr.com/meta-reality-labs-revenue-q3-2023/