Meta Has Lost More Than $85 Billion on Its Glasses and Headsets. Here's What Would Stop It.
What would it take to stop the losses in the social media giant's hardware unit?
Overview
Meta Platforms (NASDAQ:META) spent Wednesday and Thursday showing off hardware. At its two-day Connect event, the company introduced a refreshed lineup of artificial intelligence (AI) glasses, including a $449 third-generation Ray-Ban model, a $349 pair with no camera at all, and $1,300 virtual reality glasses due next spring.
The keynote didn't dwell on what all of that hardware costs shareholders. Reality labs, the segment housing Meta's glasses and headsets, lost $4.6 billion in the second quarter on just $431 million of revenue. And since the end of 2020, the segment's operating losses add up to more than $85 billion.
Details
Investors don't seem too bothered. Shares are trading near $775 as of this writing, after touching a fresh 52-week high Thursday. Still, what would it take to stop the losses?
Source
Originally published at www.fool.com.