Meta reported a $4.2 billion operating loss in its Reality Labs unit for the first quarter, continuing its multibillion-dollar bet on the metaverse, according to CNBC. Revenue from the unit came in at $412 million, below analyst expectations. The cumulative losses since late 2020 now exceed $60 billion. Meta recently laid off employees in its Oculus Studios division, which develops VR and AR content. The company faces added pressure from new Trump-era tariffs, which could raise costs and prices on mixed-reality devices. CEO Mark Zuckerberg remains committed to building a long-term digital platform despite investor skepticism.
