2024 Will Be the Make-or-Break Year for Meta's Reality Labs
Meta Platforms (NASDAQ: META) has invested tens of billions into developing virtual and augmented reality (VR/AR) technology without much to show for it in terms of a viable new business segment. That could start to change next year.
While management plans to continue its outsized investments in the Reality Labs segment, management plans to keep investments in line with overall revenue growth starting in 2024 and beyond. "We expect to pace Reality Labs investments to ensure that we can achieve our goal of growing overall company operating income," CEO Mark Zuckerberg said on the company's third-quarter earnings call in October.
An indication of improving profitability in Reality Labs could give investors confidence that Zuckerberg's massive bet will finally pay off.
Source Fool.com
