In April-June 2022, the loss of the Reality Labs division associated with the metastore in Meta structure was $2.81 billion (-$3.67 billion in the first quarter).

During the reporting period, revenue fell from $695 million to $452 million with an estimate of $431 million. For comparison, the figure for the company as a whole was $28.8 billion. Senior management expects Reality Labs’ third-quarter revenue decline.

“We are focused on long-term investments, including: […] a metaverse that will allow us to be stronger after we come out of the recession. […] The development of these platforms can generate hundreds of billions, if not trillions, of revenue over time.” – said CEO Mark Zuckerberg.

The company’s president has promised to release the web version of Horizon Worlds later this year. He also noted the good feedback from experts on Project Cambria devices under development.

Starting August 1, Meta will increase the price of Meta Quest 2 VR headsets by $100 and revise the price cap for peripherals.

In 2021, Reality Labs reported a loss of $10.2 billion on revenue of $2.3 billion.

Against the backdrop of the release of the financial statements, company shares closed the post-trading session down 4.65% on July 27.

Market sentiment could also be affected by the FTC’s lawsuit against Meta.

The regulator plans to ban the company from acquiring Within Unlimited, a startup that develops a virtual reality fitness app, Supernatural, on August 1.

“Meta plans to expand its VR empire with this. application, which proves the value of space for users. The company will be one step closer to its ultimate goal – ownership of all “Metaverse”, – says message.

Recall that Meta’s former employee warned of the threat to privacy in the space created by Reality Labs.

The company previously announced that it will open a store to showcase the metaverse.

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