After the launch of Metaverse, many of the big companies Facebook also updated their name to Meta, but the company did not find what it hoped in 2022.
While Meta is expected to release its earnings reports on Wednesday, the company’s Metaverse losses in 2022 are approaching $14 billion.
Meta founder Mark Zuckerberg also knew that the path to the Metaverse would be painful and costly.
“We expect Reality Labs spending to increase significantly again in 2023,” Zuckerberg told analysts during the company’s last earnings call in October. said . Meta announced that same day that Reality Labs, Zuckerberg’s division tasked with making Metaverse dreams come true, lost $3.7 billion in the third quarter of 2022.
Zuckerberg’s ambition to become a pivotal player in the yet-to-be-realized immersive digital world envisioned as a mix of virtual, augmented and mixed reality is expected to cost Reality Labs approximately $13.8 billion in losses during the year alone, according to data compiled by Fact Set analysts.
While Zuckerberg has been relatively candid and transparent about the high cost of investing in his dream of bringing Meta to the Metaverse, it’s almost certain that many shareholders will continue to worry once the company announces its fourth-quarter 2022 earnings.
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