{"id":20277,"date":"2023-07-27T00:57:58","date_gmt":"2023-07-27T00:57:58","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/meta-q2-earnings-reality-labs-losses-top-7-7b-year-to-date\/"},"modified":"2023-07-27T00:58:00","modified_gmt":"2023-07-27T00:58:00","slug":"meta-q2-earnings-reality-labs-losses-top-7-7b-year-to-date","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/meta-q2-earnings-reality-labs-losses-top-7-7b-year-to-date\/","title":{"rendered":"Meta Q2 earnings: Reality Labs losses top $7.7B year to date"},"content":{"rendered":"
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Meta’s metaverse-related losses topped $3.74 billion over the second quarter with the Big Tech player spending $7.7 billion on its virtual reality business so far in 2023.<\/p>\n
Its second-quarter 2023 results released on July 26 saw Meta report an 11% revenue gain compared to the same quarter last year, totaling $31.9 billion.<\/p>\n
Its metaverse-focused Reality Labs\u00a0revenue topped $276 million, its lowest in two years and a nearly 40% drop compared to Q2 2022. <\/p>\n