Operating losses associated with the Reality Labs division within Meta in October-December 2023 reached $4.67 billion, marking a record since the creation of this business unit in the fourth quarter of 2020.
For the latest reporting period, revenue increased to $1.07 billion. In comparison, in the third quarter, this figure was $210 million, and in the fourth quarter of 2022, it was $727 million.
The results for 2023 show:
- Net loss of $16.1 billion (compared to $13.7 billion in the previous year);
- Operating loss of $16.1 billion (a 17.5% increase compared to the previous year);
- Revenue of $1.9 billion (compared to $2.16 billion in 2022).
During the conference with analysts, the company's Chief Financial Officer, Susan Lee, expressed the expectation of "significant increases in Reality Labs' losses" on an annual basis. She mentioned the development of products in the augmented and virtual reality space as well as "investments in further ecosystem development" as the main reasons.
Mark Zuckerberg, founder and CEO of Meta, attributed the revenue growth to a "successful holiday season" and the "successful launch" of the VR headset Quest 3, released on October 10th. He stated that during the Catholic Christmas associated with this device, the application became the most downloaded in the app store.
The top executive pledged to continue significant investments in artificial intelligence and gaming in the metaverse, which remain "key elements of the company's long-term vision."
In 2024, Meta plans to introduce multimodal artificial intelligence functionality. The head of Meta stated that consumers will be interested in new device categories that already use artificial intelligence and may replace smartphones.
Recall that in January, ForkLog reported Meta's intentions to acquire 350,000 H100 graphics processors from Nvidia for the development of artificial intelligence.
In September 2023, the corporation introduced a set of artificial intelligence tools, including a voice assistant, a neural network with various personalities, "smart glasses," and a sticker generator.
