Meta’s Reality Labs posts $5 billion loss, bringing total losses to over $60 billion since 2020.

Meta’s Reality Labs division has reported staggering financial results for the fourth quarter of 2024, reflecting on its overarching strategy to dominate the virtual reality (VR) and augmented reality (AR) markets. The division, which is responsible for groundbreaking products such as the Meta Quest headsets and Ray-Ban smart glasses, recorded an operating loss of $4.97 billion, pushing total losses past $60 billion since its creation.

Despite these losses, Meta saw its revenues rise slightly, with sales totaling $1.1 billion during this period—a 1% year-over-year increase. This growth indicates strong hardware sales performance. “This is also going to be a pivotal year for the metaverse,” stated Mark Zuckerberg, Meta’s CEO, during the earnings call on January 31, 2025. “The number of people using Quest and Horizon has been steadily growing, and this is a year when… long-term investments… will make the metaverse more visually stunning…”