Reality Labs revenue continues to fall, investments remain

Meta has presented this morning to investors the results of the 2nd Quarter of this year (Q2 2023 …), with earnings of almost $32 billion of which 276 million they are Reality Labs. This figure is the lowest in the last two years. In terms of expenses, the technology division 3,739 million dollars, similar to that of previous quarters.

The overall results of the entire company in the second quarter were better than those of the first and 11% higher than those of the same period last year. Although not everything has been joyful, both Mark Zuckerberg and investors have been satisfied, since between January and June 2023 shareholders pocketed $5.24 per share, slightly more than what they earned in that semester in 2022 ($5.21).

We’ve had a good quarter. We continue to see great engagement across all of our apps and have the most exciting roadmap I’ve seen in a long time with Llama 2, Threads, Reels, new AI products in the works and the launch of Quest 3 this fall,” says Mark Zuckerberg

Net Target revenue in US$ million

In the The Year of Efficiency, Meta has faced the costs of several waves of layoffs (the workforce has been reduced by 14%), a record fine of 1,200 million euros that the Irish Data Protection Commission imposed last May, and a decrease in sales of Quest 2. Instagram Facebook’s advertising revenue and revenue from its Family Apps (Facebook, Instagram, WhatsApp) have increased, however.