According to insider information from Meta’s CTO, Andrew Bosworth, he revealed to employees in the Reality Labs division, responsible for overseeing the Metaverse, that sales in 2024 surpassed expectations by 40%. The number of users also increased significantly, in line with projections.
Bosworth stated that these results reflect a pivotal moment for the Reality Labs business in 2024, with a stronger direction for the Quest brand. Despite facing scrutiny from investors due to significant losses, such as the $4.428 billion loss in the third quarter of 2024 from a $270 million revenue, Meta’s management reaffirmed that Reality Labs is a long-term business plan that may continue to incur losses for several years.
Source: Business Insider
TLDR: Meta’s Reality Labs division exceeded sales targets in 2024, with a 40% increase in sales and a growing user base, despite significant losses indicating a long-term business strategy.
Leave a Comment