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Meta has released its official financial results for the twelve months of 2022, which show another huge loss for the VR division.
Overall, for the full year 2022, the company’s revenue was $116 billion, down 1% from a year earlier. Net income was $23 billion, down 41% from last year.
In the fourth quarter alone, revenue was $32 billion (-3% year on year) and net income was $4.6 billion (-54% year on year).
Speaking only of Reality Labs, which deals with virtual reality, the revenue in 2022 was $2.1 billion (-5% year on year), and the revenue in the fourth quarter was $727 million (-17% year on year). The operating losses were huge, given that we are talking about $14 billion for the entire year (13.7 billion to be exact). In 2021, operating losses amounted to $10.1 billion.
In October 2022, Meta released the Meta Quest Pro headset.
Over the year, Facebook’s monthly active users are up 2% year-over-year, and daily users are up 4%. Facebook has two billion active users every day.
The report’s projections for the first quarter of 2023 show revenue in the range of $26 billion to $29 billion.
