Meta’s Metaverse Division May Have A Cumulative Loss Of $13.8 Billion In 2022
Meta will announce its financial report for the fourth quarter and full year of 2022 today after the stock market closes on February 1, US Eastern Time. After the financial report is released, Meta will hold a financial report conference call at 5:00 pm Eastern Time on February 1 to discuss the results of the financial report.
According to The Block, Meta has lost more than $600 billion in market value since the company’s market value began to decline at the end of 2021. Analyst Michael Nathanson‘s company said it expected Reality Labs, the Metaverse division, to lose $13.8 billion in 2022. Meta reported that its Reality Labs, which is in charge of realizing the CEO’s metaverse fantasies, lost $3.7 billion in the third quarter of 2022. For the fourth quarter, profits, which will be revealed on Wednesday after the closing, are anticipated to increase to $4.4 billion.
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