Here's How Much Meta Platforms Spent On the Metaverse in 2022
When it comes to Meta Platforms (NASDAQ: META), most people associate the tech giant with its Facebook, Instagram, or WhatsApp platforms. However, for CEO Mark Zuckerberg, his focus is increasingly on the metaverse -- an immersive digital platform being developed to better facilitate real-time human interaction.
Facebook, Instagram, and WhatsApp are some of the biggest and most profitable social platforms in the world. Meta Platforms records financial results for these under its family of apps segment. Looking just at this business, the financials are extremely compelling for investors. But investors can't afford to ignore Reality Labs, Meta Platforms' metaverse segment.
In 2022, Meta Platforms' Reality Labs generated almost $2.2 billion in full-year revenue, making it one of the biggest metaverse players in the world. However, this segment generated an operating loss of $13.7 billion, meaning the company is spending way more money than it's making.
Source Fool.com
