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Meta’s Facebook Reality Labs Loses $10.2 Billion in 2021

Metaverse coin crypto currency blockchain concept, META on smartphone screen with gold coin on meta logo background.

Tech giant Meta Platforms Inc. saw its stock decline by double digits after it reported $10.2-billion worth of losses on its newly minted Facebook Reality Labs in 2021.

Source: Coindesk

FB is down 21.98% premarket.

Facebook Reality Labs raised $2.3 billion in revenue for the full-year 2021, equivalent to 1.98% of Meta’s $116 billion revenue. The new division recorded a revenue loss of $877 million in the fourth quarter.

Meta’s fourth-quarter earnings per share stood at $3.67, lower than the market’s consensus of $3.85. Revenue for the quarter was $33.7 billion, above the market expectation of $33.4 billion.

Meta’s earlier said Facebook Reality Labs is expected to drag its 2021 operating profit by some $10 billion, and reiterated its commitment to spend more for such operations in the next years.

Meta’s first-quarter 2022 revenue guidance was set between $27 billion to $29 billion, lower than the market consensus of $30.2 billion.


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