$ 2.9 billion loss; The current gift of Metavars for Meta Company

With the release of Meta’s first quarter earnings report on Wednesday, it was revealed that the company’s Reality Labs division had recorded a loss of $ 2.9 billion. Although the sector has suffered heavy losses for Meta, Zuckerberg is optimistic about Metavars’ future profitability for the company.

To Report Kevin Telegraph, formerly known as Meta Platform, announced its earnings for the first three months of the new year on Wednesday. According to published documents, the company’s laboratories, which focus on the development of Metavers and are known as Reality Labs, have inflicted heavy losses on the company.

Formerly known as Facebook’s Oculus, the division has now invested heavily in developing virtual reality and meta-related products, resulting in a loss of $ 2.9 billion in three months. The beginning of the new year is new. In the first three months of last year, the sector lost $ 1.8 billion, an increase of 61 percent.

However, despite the loss recorded, the overall revenue of Realty Labs was higher than expected. In the first three months of this year, revenue of $ 695 million came from sales of items such as virtual reality (VR) headsets and meta-portal hardware (Meta Portal).

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In an interview on Wednesday, Meta CEO Mark Zuckerberg stressed that the loss of this sector is natural; Because the main activity of Labs Reality is still focused on research and development of a range of software and hardware products such as Project Cambria.

Zuckerberg adds in this regard:

I know that doing this project, that is, building something that has not been built before, is costly; But it provides a new paradigm for our social computing and communication.
We expect to generate more revenue than others in this area, and we also seek to make the development of our platforms a sustainable advantage.

Meta’s financial reports released earlier this year showed that Relite Labs’s loss of about $ 10 billion last year. About $ 4 billion of these losses have been spent on staff and research and development.

Overall, the company’s total revenue in the first three months of 2022 is estimated at $ 27.9 billion, an increase of 6.9 percent over the company’s revenue last year, which was about $ 26.1 billion. Gives. The release of the report for the first three months of this year was well received by the market, so that the stock price of meta in after-hours trading increased by about 18%.

The number of employees of Meta Company as of March 31 (April 11) is equal to 77,805 people, which reflects a growth of 28% compared to last year, and this indicates that the company continues to grow.

Recently, in February (February), with the fall of $ 251 billion in the stock market value of Meta Company, the biggest daily price fall in the history of the stock exchange was recorded. The reason for this price drop was the reduction of about 1 million daily active users of this platform.