First August

According to Odaily, Meta released its financial results for the second quarter of 2024 on Wednesday. The company's metaverse division, Reality Labs, reported an operating loss of $4.49 billion, slightly better than the market expectation of a $4.53 billion loss. This is a significant increase from the $276 million loss reported in the same period last year.Meta Platforms' overall revenue for the second quarter of 2024 was $39.07 billion, surpassing market expectations of $38.3 billion and showing a notable increase from the $31.999 billion reported in the second quarter of the previous year. Despite the substantial losses in the Reality Labs division, Meta remains optimistic about its future prospects.The company has indicated that it still anticipates continued losses for the Reality Labs division throughout 2024. This outlook reflects Meta's ongoing investment in its metaverse initiatives, which are seen as a long-term strategic priority for the company.