Meta's Reality Labs Reports Record Loss Despite High Revenue Surge in Q4 2023.

Meta's Reality Labs division reported a record-breaking operating loss of $4.65 billion for the last quarter of 2023, despite a revenue surge of nearly $1.1 billion. This marks the highest loss the division has faced since Q4 of 2020. Despite the loss, Meta's overall annual revenue for 2023 reached $134.9 billion, a 16% increase compared to the previous year. The significant late-year revenue boost can be attributed to the successful release of Meta Quest 3. Meta's continued investment in AI technology and the metaverse is expected to contribute to further losses in the coming year, but the company plans to pay its first-ever dividend of 50 cents per share on March 26th, with intentions to continue with quarterly dividends.

February 01, 2024
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