Despite producing one of the best VR headsets around, the Quest 3, Meta's Reality Labs division just isn't making any money. Nearly $2 billion of revenue in 2023 was completely swallowed by $18 ...

Oculus Connect. Facebook Connect. Meta Connect. Whatever the company is calling its annual XR developer conference, it’s been nearly a decade since the first Connect was held—all of them either ...

Oculus was a virtual reality company founded by Palmer Luckey. It was acquired by Facebook, now known as Meta, for $2 billion in cash and stock. Virtual reality has been a major initiative for Meta.

$10 billion loss in 2020, $16 billion loss in 2023—and it's only going to get worse, says Meta. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.