Mark Zuckerberg, the chief of Meta (beforehand Fb) just lately disclosed income particulars in regards to the firm’s final quarter. Meta clocked a income of $40.1 billion (roughly Rs. 3,34,416 crore) between September and December. In whole, the social media and Web3 mammoth managed to reel-in $134.9 billion (roughly Rs. 11,25,119 crore) within the yr of 2023. On a yearly foundation, Meta’s income has spiked by 16 %. It’s, nevertheless, fascinating that Meta’s Actuality Labs unit has solely seen losses since 2021.
In an earnings report posted on March 4, Zuckerberg acknowledged having seen a superb interval revenue-wise. Regardless of his Actuality Labs unit seeing losses, the tech mogul lauded the developments this initiative has ushered in rising superior applied sciences.
“We had a superb quarter as our group and enterprise proceed to develop. We have made quite a lot of progress on our imaginative and prescient for advancing AI and the metaverse,” the 39-year-old multi-billionaire mentioned in his assertion.
Zuckerberg solidified his dedication to discover the metaverse when he rebranded Fb to Meta in 2021. On the time, a brand new unit was arrange throughout the firm known as the Actuality Labs. This particular physique was tasked with conducting analysis and improvement round metaverse and its use circumstances.
Within the final three years, Actuality Labs launched metaverse and augmented actuality (AR) {hardware} merchandise just like the Quest VR headset lineup to additional the adoption of those applied sciences. As of March 2023, Meta has reportedly offered 20 million Quest headsets.
Regardless of its ongoing efforts nevertheless, Meta’s Actuality Labs unit solely met with losses in terms of its revenues. Meta reportedly revealed in February that Actuality Labs suffered a lack of $46.5 billion whereas producing almost $11 billion (roughly Rs. 91,744 crore) in income within the fourth quarter of 2023.
Previous to that, Actuality Labs had misplaced $13.7 billion (roughly Rs. 1,12,200 crore) in 2022.
Regardless of these monetary penalties, Zuckerberg has stored his estimation in regards to the upcoming metaverse growth intact. In Could 2023, Meta had commissioned a research that claimed that the metaverse might contribute as a lot as $760 billion (roughly Rs. 62,36,088 crore) or about 2.4 % to the US annual gross home product (GDP) by 2035.
