Meta CEO Mark Zuckerberg presents Orion AR Glasses as he makes a keynote speech throughout the Meta Join annual occasion on the firm’s headquarters in Menlo Park, California, on Sept. 25, 2024.
Manuel Orbegozo | Reuters
Meta’s Actuality Labs, the unit tasked with constructing the futuristic metaverse, continues bleeding cash.
The social media firm reported its second-quarter earnings on Wednesday and revealed that Actuality Labs logged an working lack of $4.53 billion whereas recording $370 million in gross sales throughout the interval. Analysts have been projecting that unit to put up a second-quarter working lack of $4.99 billion whereas producing $381 million in gross sales.
The Actuality Labs division oversees the Quest line of digital actuality headsets along with the Ray-Ban Meta good glasses, that are collectively developed with the French-Italian eyewear big EssilorLuxottica. Meta needs Actuality Labs to create cutting-edge merchandise just like the prototype Orion augmented reality glasses that would underpin a brand new, immersive computing platform.
However growing VR, AR and different new gadgets is an costly endeavor, with the Actuality Labs division logging almost $70 billion in cumulative losses since late 2020. Meta in April said Actuality Labs recorded an working lack of $4.2 billion throughout the first quarter whereas bringing in $412 million in gross sales.
Though the Quest VR headsets have not change into breakout hits, the Ray-Ban Meta good glasses are displaying indicators of success.
EssilorLuxottica on Monday said Ray-Ban Meta good glasses gross sales greater than tripled yr over yr for the primary half of 2025. The eyewear big and Meta debuted in June the brand new Oakley Meta good glasses, which is the author product spawned from their partnership.
Meta mentioned in April that an undisclosed variety of Actuality Labs staff who have been a part of its Oculus Studios VR and AR software program unit were laid off.
