Meta’s financial statements for Q4 2022 show that its VR division’s losses increased compared to its serious money burn from prior quarters in the year. However, that.
The big picture: Mark Zuckerberg’s Metaverse ambitions continue to look like a money pit, costing Meta tens of billions of dollars over the last two years. The company’s 2022 year-end financial statements compound prior heavy losses from Reality Labs, but Meta’s leadership remains committed to the venture.
Meta’s financial statements for Q4 2022 show that its VR division’s losses increased compared to its serious money burn from prior quarters in the year. However, that didn’t stop Meta’s stocks from experiencing one of their best days.
Reality Labs hemorrhaged $4.3 billion in Q4 2022. Including the $3.7 billion burnt in Q3, the $3 billion sunk in Q2, and the $2.96 billion thrown away in Q1, Meta’s Metaverse division losses for 2022 total $13.
