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Facebook Reality Labs lost $3.846 billion during Q1 2024

The Meta company's VR division continued to lose billions in its Q1 2024 earnings results.
TJ Denzer
TJ Denzer
Image via Meta
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Meta (formerly Facebook) has posted its earnings results for the most recent fiscal quarter, and Q1 2024 was mostly good news for the company’s finances. However, it wasn’t all good news. As is often the case, Meta threw a whole lot of money into its VR Reality Labs division. At the bottom line of its overall revenue, Facebook Reality Labs accounted for about $3.846 billion worth of losses. The division only made about $440 million of that back.

Meta posted its Q1 2024 earnings results, including the Reality Labs revenue and losses in a report on its investor relations website. There, Meta reported the $3.846 billion worth of losses specifically attributed to Reality Labs. It is worth noting that Reality Lab losses were down just a little bit from Q1 2023, which came out to $3.992 billion in losses. Its revenue was also substantially up from Q1 2023, which only came out to $339 million last year.

Facebook (META)'s chart of expenses and revenue for its Q1 2024, featuring a $3.846 billion loss by Reality Labs.
Facebook (META) reported $3.846 billion in losses attributed to Reality Labs with just $440 million in revenue.
Source: Meta

The Meta Reality Labs metrics have been mostly a black eye on the company’s earnings results at the end of each quarter. Q3 2023 saw Reality Labs account for $3.742 billion of losses on the quarter, and Q2 2023 saw $3.7 billion worth of losses in the division. While Meta has appeared to reduce losses in Reality Labs year-to-year, it’s not necessarily doing so well quarter-to-quarter.

Even so, Meta has also made moves to make its VR technology more available. It’s opened the Meta Horizon OS on Quest headsets to third-party HMD manufacturers and is working with Microsoft on an Xbox Cloud Gaming-inspired Quest headset. It will remain to be seen if this licensing pays off substantially, so stay tuned for more financial reporting as news drops, right here at Shacknews.

Senior News Editor
Senior News Editor

TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.

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