2023-11-27
ByteDance basically spent close to 10b usd to find out. (And since others have questioned the math: 4b for Moonton, 3B for Pico VR maker, Nuverse spent a ton marketing games especially Marvel Snap and internal studio efforts gets you close).
Reuters
ByteDance plans to “restructure” its gaming business; sources say ByteDance will wind down its Nuverse gaming brand and retreat from mainstream video games
TikTok maker ByteDance is set to internally announce on Monday the winding down of its Nuverse gaming brand and full retreat …
2023-07-27
$META expects Reality Labs operating losses to increase meaningfully year-over-year in 2024 amid investments in AR/VR and ecosystem @ballmatthew
Meta Investor Relations
Meta reports Q2 revenue up 11% YoY to $32B, net income up 16% YoY to $7.79B, and family daily active people up 7% YoY to 3.07B for June 2023; META jumps 10%+
but most of the new users came from outside the US and Canada Karissa Bell / Engadget : Meta had its best quarter since 2021 despite losing more money on the metaverse Abubakar Idr...
$META expects Reality Labs operating losses to increase meaningfully year-over-year in 2024 amid investments in AR/VR and ecosystem @ballmatthew
CNBC
Meta's Reality Labs reports a $3.7B operating loss in Q2, vs. $3.5B est., and expects losses to “increase meaningfully” due to VR/AR and ecosystem investments
Jonathan Vanian / CNBC :
2023-04-27
$META with a big beat but notably not pulling back on Reality Labs spending: “We continue to expect Reality Labs operating losses to increase year-over-year in 2023.”
Meta
Meta reports Q1 revenue up 3% YoY to $28.6B, net income down 24% YoY to $5.7B, and family daily active people up 5% YoY to 3.02B for March 2023; META jumps 10%+
“We had a good quarter and our community continues to grow,” said Mark Zuckerberg, Meta founder and CEO.
$META with a big beat but notably not pulling back on Reality Labs spending: “We continue to expect Reality Labs operating losses to increase year-over-year in 2023.”
CNBC
Meta's Reality Labs unit reports Q1 revenue down 51% YoY from $695M to $339M and operating loss up 35% YoY from $2.96B to $3.99B, after losing $13.72B in 2022
Jonathan Vanian / CNBC :