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Meta's Q4 2023 earnings report reveals record revenues and Quest 3 sales
source link: https://nextbigwhat.com/metas-q4-2023-earnings-report-reveals-record-revenues-and-quest-3-sales/
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Meta’s Q4 2023 earnings report reveals record revenues and Quest 3 sales
- Meta reported record-breaking revenues of $40 billion and net income of $14 billion in 2023, with Reality Labs earning over $1 billion for the first time.
- Despite high sales of Quest 3, Reality Labs’ operating losses are expected to increase due to ongoing AR & VR product development.
- Meta plans to expand its AI infrastructure capacity and work on an open-source artificial general intelligence, merging its GenAI and FAIR teams.
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