According to Foresight News, Meta released its second quarter financial report, according to Yahoo Finance. Reality Labs lost $4.48 billion in the second quarter (276 million dollars in the same period last year), and its revenue accounted for less than 1% of Meta's total revenue. Sources revealed that Reality Labs laid off about 100 people in June this year, including vice presidents, managers, and dozens of employees in the research department and technical engineering team.
Foresight News previously reported that Meta stated in its first-quarter financial report that its virtual reality division Reality Labs had an operating loss of $3.85 billion and revenue of $440 million, an increase of about 30% from $339 million in the same period last year, accounting for about 1% of Meta's total sales for the quarter.
