The Latest Breaking News from Reality Labs

Meta must prove it’s built the right protections for users if the metaverse is to be an inclusive space

Meta Platforms, Inc (NASDAQ:META) is scaling back its plans to release a series of augmented reality glasses over the next several years, the Information reports.  The move marks its second product suspension for the week as it battled the current revenue slowdown. Meta aimed to trim heavy investments in its Reality Labs hardware…

CNBC Instacart Confidentially Files For US IPO

Facebook parent Meta Platforms, Inc (NASDAQ:FB) is preparing cutbacks in its Reality Labs division to refocus on hardware products and the "metaverse," Reuters reports. Meta was not planning layoffs as part of the changes. The division could not afford to do some projects anymore and postponed others.  According to Reuters, Reality Labs lost…

Facebook owner Meta Platforms has opened its first physical retail store in Burlingame, California. It's located at the main campus of Reality Labs, the company's unit that produces hardware like virtual reality headsets or smart glasses. Meta has staked its future business on the idea of the metaverse, an immersive…

Facebook parent Meta on Wednesday reported better profit than expected in the recently ended quarter, calming investors worried about the toll of competition from TikTok and eased pandemic restrictions. Meta said it made a profit of $7.5 billion on revenue of $27.9 billion in the first three months of this…

Facebook parent Meta Platforms Inc (NASDAQ: FB) said in its first-quarter earnings report that its Facebook Reality Labs division incurred a loss of $2.96 billion in the period.