Mark Zuckerberg, chief govt officer of Meta Platforms Inc., demonstrates the Meta Quest Professional in the course of the digital Meta Join occasion in New York, US, on Tuesday, Oct. 11, 2022.
Michael Nagle | Bloomberg | Getty Photographs
Meta continues to push the metaverse as the long run. Within the current, it retains racking up losses.
In its third-quarter earnings report on Wednesday, Meta revealed that its Actuality Labs unit, which develops metaverse-related applied sciences, recorded a $3.74 billion working loss.
Income within the digital actuality and augmented actuality division dropped 26% from $285 million a yr earlier, to $210 million. Analysts had been anticipating gross sales of $299.3 million and a $3.9 billion working loss, in response to StreetAccount.
Fb founder and CEO Mark Zuckerberg modified the corporate’s title to Meta two years in the past, declaring the metaverse “the following frontier.”
Whereas Meta is pouring billions of {dollars} 1 / 4 into VR and AR to attempt to flip Zuckerberg’s dream right into a actuality, the market stays nascent. Builders who attended Meta’s current Join convention for blended actuality instructed CNBC that Apple’s upcoming entry into the VR market might catalyze the business and push it into the mainstream.
Meta debuted its Quest 3 VR headset in September, pitching it as a technically superior model of the older Quest 2 system. The brand new product incorporates an improved “passthrough” function that creates extra of a blended actuality expertise.
The Quest 3 has a beginning price of $499, which is $200 greater than the Quest 2 however $500 cheaper than the high-end Quest Professional VR headset.
The corporate is positioning its Quest headsets as a extra reasonably priced approach for individuals to expertise VR in comparison with Apple’s upcoming Imaginative and prescient Professional blended actuality headset, which can price $3,499 when it debuts subsequent yr.
In June, Meta debuted the Meta Quest+ VR subscription service for customers who wish to entry two new video games every month. The subscription service prices $7.99 a month and works with the Quest 2, Quest Professional and Quest 3 VR headsets.
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