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Facebook lost $2.8 billion on virtual reality efforts last quarter

That's a loss of almost $1 billion each month on average.

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Even though virtual reality has managed to get some traction, it's hard to call it casually widespread and there are very few AAA games made specifically for this tech. A very clear sign that it is struggling comes from Meta (Facebook's parent company), who just delivered their quarterly report for the period April - June.

One of the things they highlighted was an absolutely huge loss for their efforts in this department. As revealed by CNBC, Meta lost a whopping $2.8 billion on Reality Labs, which is their virtual reality division. This includes both efforts in virtual reality, but also research for augmented reality and the so called metaverse. The latter is hard to describe and few seem to want it, but many really major tech companies seem to be convinced it's the future.

Earlier this week, we reported that Meta raised the price of the Quest 2 headset from $299 to $399 next month, something that surely is a result of these huge losses.

Facebook lost .8 billion on virtual reality efforts last quarter


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