Meta Reports a Loss of $10.2B on Augmented/Virtual Reality Operations in 2021

Posted on by American Coins & Gold

Meta Reports a Loss of .2B on Augmented/Virtual Reality Operations in 2021
Meta Platforms (META) reported that it lost $10.2 billion in 2021 on its newly broken out Facebook Reality Labs (FRL) division, which comprises its augmented and virtual reality operations, in its fourth quarter earnings report.Meta announced in the third quarter that it would be breaking out results for the division for the first time to show the performance and investments in a group that it considers key to the next generation of online social experiences. The company even changed its name from Facebook to Meta Platforms to emphasize the importance of the metaverse to its future.FRL generated $2.3 billion in…