Facebook parent company Meta Platforms Inc. posted nearly $3 billion in losses in the first three months of 2022 for its Metaverse-focused Reality Labs division.
According to an earnings report (pdf) published on April 27, the company’s Facebook Reality Labs (FRL) division, which houses its augmented and virtual reality operations, had $695 million in revenue in the first quarter, driven by sales of its Quest 2 virtual reality headset.
