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Meta’s
efforts to create the digital worlds known as the metaverse continue to be costly.
The company reported fourth-quarter earnings on Wednesday, saying its Reality Labs unit recorded an operating loss of $6.02 billion on $955 million in sales. Analysts were expecting Reality Labs to record an operating loss of $5.67 billion on $940.8 million in fourth-quarter revenue.
Reality Labs’ losses rose 21% year over year for the quarter, while sales grew 13% during the same period. The segment now has nearly $80 billion in total operating losses since late 2020.
