Meta Records Best Quarter Since 2021, Expects Increase in Metaverse Losses

  • Meta experienced its best quarter since 2021, reporting $32 billion revenue, although massive losses continue in its metaverse project.
  • Reality Labs lost $3.7 billion in Q2 2023, and CFO Susan Li expects losses to ‘increase meaningfully’.
  • Despite decreasing Threads engagement, CEO Mark Zuckerberg sees a path for the app to reach ‘hundreds of millions’ of users.
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