Meta is experiencing considerable financial difficulties. Its Reality Labs division continues to lose billions of dollars at the same time Facebook reported its first-ever decline in revenue.
Meta’s Reality Labs Loses $2.8B as Facebook’s Revenue Falls for First TimeMeta is experiencing a combination of financial difficulties that it has not encountered for the first time in its history. Its Reality Labs division continues to lose billions of dollars at the same time Facebook reported its first-ever decline in revenue., Facebook’s decade-long streak of nonstop revenue growth has come to an end as the social media giant has reported a decline in revenue for the second quarter of 2022.
The overall profit for Facebook’s parent company, Meta, also fell but to a much more significant degree: 36% to $6.6 billion. Reality Labs, the division responsible for virtual reality , augmented reality , and the company’s push into the so-called “metaverse” lost
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