Meta's Reality Labs unit reports Q1 revenue down 51% YoY from $695M to $339M and operating loss up 35% YoY from $2.96B to $3.99B, after losing $13.72B in 2022
CNBC Jonathan Vanian
Related Coverage
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Discussion
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@xrandrew
Andrew Woodberry
on x
Meta Reality Labs' loss is growing, but at a decelerated pace. So that's a good thing! https://twitter.com/...
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@thekantoarbot
@thekantoarbot
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$META with a big beat but notably not pulling back on Reality Labs spending: “We continue to expect Reality Labs operating losses to increase year-over-year in 2023.”
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@calebfranzen
Caleb Franzen
on x
They are investing heavily into Reality Labs, for right or for wrong, and I admire their conviction. Have to have a high degree of confidence they execute. They're subsidizing RL through their Family of Apps, which is essentially an investment in their future. Love it.
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@value_invest12
@value_invest12
on x
Its funny how $Meta traded down to $88 as investors were throwing the towel based metaverse spending. Nothing has really changed about reality labs investments except Zuck mentioning it less. Still, the stock is up 166%.
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@stockmktnewz
@stockmktnewz
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Just say you're adding AI to Reality labs and no one will care about the losses
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@grdecter
@grdecter
on x
META: Loses $3.99 billion this quarter on Metaverse division ALSO META: Stock up 12% after hours because they beat earnings by a few pennies. https://twitter.com/...
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@hkeskiva
Heikki Keskiväli
on x
Zuck has restructured the whole metaverse away? 1Q23 $META earnings release mentions: “Metaverse” 0x “AI” 3x
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@calebfranzen
Caleb Franzen
on x
$META is such a cash cow, it's stunning. • Cash & equivalents = $37.44Bn • Operating income = $7.23Bn • R&D expense = $9.38Bn • Ad revenue = $28.1Bn (and growing) This is key for me: Despite a -$3.99Bn loss from Reality Labs, their total income from operations is $7.227Bn. https:…
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@sixsigmacapital
@sixsigmacapital
on x
$META Year of efficiency?