Meta's Reality Labs Posts $4.5 Billion Loss In Second Quarter

In the company's second-quarter earnings report on Wednesday, Meta's Reality Labs unit recorded an operating loss of $4.48 billion. CNBC reports: Since late 2020, the Reality Labs unit has generated cumulative losses of about $50 billion, underscoring CEO Mark Zuckerberg's massive investments into the hardware and software that underpins what he says will be the next era of personal computing. Revenue in Reality Labs, largely derived from the company's Quest family of VR headsets and Ray-Ban Meta smart glasses, came in at $353 million, representing growth of 28% from $276 million a year earlier. Analysts were expecting the unit to bring in $371 million.

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