Meta's Reality Labs reported a loss of $3.85 billion in Q1

ChainCatcher news, according to CNBC, Meta stated in its first-quarter earnings report that its virtual reality division Reality Labs had an operating loss of $3.85 billion, with revenue of $440 million, an increase of about 30% compared to $339 million in the same period last year, accounting for about 1% of Meta's total sales for the quarter. Since Meta began reporting this division separately at the end of 2020, the losses for Reality Labs have exceeded $45 billion.

In addition, Meta announced that it will collaborate with third-party hardware companies to create new VR headsets using the same Meta Horizon operating system as the Quest headsets.