Meta’s Reality Labs, the company’s XR and metaverse arm, revealed its latest quarterly earnings results which showed a drop in revenue this holiday season when compared to the same quarter last year. The fourth quarter of 2021 saw $877 million in revenue from Reality Labs, whereas Q4 2022 could only muster up $727 million due to their new high-end headset Quest Pro not reaching expected levels of success. To make matters worse, expenses for this period have hit an all-time high totaling at over four billion dollars; highlighting Meta’s ever-growing investments into their Reality Labs division and predicting that returns may come much farther down the line. To compensate for these losses CEO Mark Zuckerberg announced his management thematic shift towards efficiency as he aims to be more stringent about cutting unsuccessful endeavors with hopes that it will bring prosperity back to Meta and its divisions faster than anticipated.
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