Friday, 1 November 2024

Game News Round-Up

Daily curated games-industry news digest for 1 November 2024.

General4 stories
Business2 stories

Meta's AR/VR Reality Labs division records further losses of $4.4 billion

  • And it expects operating losses to "increase meaningfully year-over-year"
  • This is the third reported loss of the year in this segment, with Reality Labs reporting a loss of $3.8 billion during its first quarter, and $4.5 billion in the second.
  • For its Reality Labs business, Meta said Q3 revenue was up 29% to $270 million, which was "driven by hardware sales."
  • Reality Labs expenses were also up 19% year-on-year to $4.7 billion, which Meta said was driven primarily by higher headcount-related expenses and infrastructure costs.
GamesIndustry.biz