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Meta Loses $2.8 Billion on Metaverse Division Despite the Mammoth Re-Branding Step

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Meta Loses $2.8 Billion on Metaverse Division Despite the Mammoth Re-Branding Step

In Meta’s Q2 earnings call, its chief Mark Zuckerberg announced that the company’s metaverse-focussed ‘Facebook Reality Labs’ division has reported losses of a whopping $2.81 billion (roughly Rs. 22,410 crore). Despite the financial setback, Zuckerberg has exuded confidence that in the coming years, all the trials and errors that are costing the company billio…

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