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Meta Q2 Sales Jump 22% in Wall Street Beat as Its AR/VR and Metaverse Business Loses Billions
Meta's social-media empire kept minting digital-ad dollars in Q2 2024 -- while its Reality Labs business continued to rack up bigger losses.
Meta ‘s social-media empire keeps minting digital-ad dollars — while its metaverse and AR/VR business continues to rack up bigger losses. Meanwhile, Meta’s Reality Labs segment — which houses the Quest AR/VR headset and metaverse initiatives — posted a higher loss for Q2, as Zuckerberg’s passion project continues to burn up cash. For June 2024, the number of daily active users across Meta’s family of apps averaged 3.27 billion, an increase of 7% year-over-year.
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