Meta posts wider $13.7 billion loss on metaverse unit in 2022

Meta's metaverse-focused Reality Labs reported $13.7 billion in operating losses for 2022, up 34% from a $10.2 billion loss in 2021. The unit brought in $2.16 billion in revenue, against $2.27 billion in 2021. Despite this, the company said it'd continue to invest "meaningfully" in this area given the "significant long-term opportunities".