BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Meta’s ‘Reality Labs’ Reports a $3.74 Billion Operating Loss in Q3

BlockNews.com Team by BlockNews.com Team
October 25, 2023
in BUSINESS, METAVERSE, NFT
Reading Time: 3 mins read
3
SHARES
51
VIEWS
Share on XShare in TelegramShare on Reddit
  • Meta’s Reality Labs division lost $3.7 billion in Q3 2022, bringing total metaverse losses since early 2021 to over $21 billion as CEO Mark Zuckerberg pushes forward with his metaverse vision.
  • In September, Meta released the Quest 3 VR headset, a technically improved $499 version of the older Quest 2 device that is more affordable than the high-end Quest Pro.
  • Meta launched a $7.99 per month VR subscription service in June for Quest headset owners to access new games, competing with Apple’s upcoming $3,499 mixed reality headset.

Meta‘s Reality Labs division, which is developing metaverse technologies, recorded a $3.7 billion operating loss in Q3 2022. This brings total losses since early 2021 to over $21 billion, as CEO Mark Zuckerberg continues his ambitious push into the metaverse.

🚨 NEWS: @Meta's 'Reality Labs' reports a $3.74 billion operating loss in Q3.

This division is dedicated to metaverse technologies such as AR/VR.

Despite revenue dropping 26% year-on-year, Meta remains committed to its metaverse vision.

Upcoming product launches like the… pic.twitter.com/5tdNtyTVmw

— BlockNews.com (@blocknewsdotcom) October 25, 2023

Meta’s Latest VR Headset

In September, Meta released the Quest 3 VR headset, describing it as a technically superior version of the older Quest 2 device. The Quest 3 starts at $499, which is $200 more than the Quest 2 but $500 less than the high-end Quest Pro.

Meta’s VR Subscription Service

In June, Meta launched a $7.99 per month VR subscription service for Quest headset owners. The service provides access to two new VR games each month. It works with the Quest 2, Quest Pro, and new Quest 3 headsets.

Competition from Apple

Developers say Apple‘s upcoming entry into the VR market with its own headset could push the industry into the mainstream. Apple’s Vision Pro mixed reality headset will cost $3,499 when it debuts next year. In contrast, Meta is positioning its Quest headsets as more affordable VR options.

The Road Ahead

While the metaverse market remains early stage, Meta continues to invest billions quarterly into making its vision a reality. The company faces stiff competition from major players like Apple, but is counting on affordable VR devices like Quest to drive adoption. Time will tell if virtual worlds become the next frontier.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BusinessFacebookMetametaverseNFT
Tweet1ShareShare
BlockNews.com Team

BlockNews.com Team

The go-to news source for Cryptocurrency, Blockchain, Technology, & Finance

DON'T MISS THESE! HOT OFF THE PRESS

Chainlink Partners with Saudi Awwal Bank, Price Struggles to React
BUSINESS

Chainlink Partners with Saudi Awwal Bank, Price Struggles to React

September 17, 2025
Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know
BUSINESS

Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

September 15, 2025
Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened
CRYPTO

Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened

September 15, 2025
Tether Unveils USA₮, Brings in Ex-Trump Adviser as CEO
BUSINESS

Tether Unveils USA₮, Brings in Ex-Trump Adviser as CEO

September 13, 2025
PayPal Goes “All In” on HyperLiquid: Here is What Investors Need to Know
BUSINESS

PayPal Goes “All In” on HyperLiquid: Here is What Investors Need to Know

September 11, 2025
ApeCoin Makes Official Debut on Solana: Here is Why This is Bullish for APE Holders
CRYPTO

ApeCoin Makes Official Debut on Solana: Here is Why This is Bullish for APE Holders

September 9, 2025
Load More

Related News

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade

September 17, 2025
How to Go From Zero to Your First Profitable Trade in Crypto (2025)

How to Go From Zero to Your First Profitable Trade in Crypto (2025)

September 17, 2025
What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News

What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News

September 17, 2025
Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You

Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You

September 17, 2025
What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

September 17, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews