Published , by Morgan Shaver
Published , by Morgan Shaver
Facebook (META) reported its Q3 2022 results today and among the information shared is mention of how Reality Labs earned $285 million in revenue while losing a staggering $3.67 billion. In the earnings report that was shared, it’s noted that Meta anticipates Reality Labs’ operating losses in 2023 to “grow significantly year-over-year.”
Numbers wise, Reality Labs reported the following during Q3 2022:
Opening the earnings report, Meta CEO and founder Mark Zuckerberg remarks on community growth and engagement, while also touching on challenges the company faces such as revenue growth.
“Our community continues to grow and I'm pleased with the strong engagement we're seeing driven by progress on our discovery engine and products like Reels," Zuckerberg said in the report. "While we face nearterm challenges on revenue, the fundamentals are there for a return to stronger revenue growth. We're approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company."
For more from Meta’s Q3 2022 earnings, be sure to read through the full report. And for more Facebook (META) news, check out some of our previous coverage including Facebook (META) Q3 2022 earnings results beating revenue expectations but missing on EPS, and Facebook (META) being ordered to sell GIPHY by the United Kingdom’s Competition and Markets Authority (CMA)