Meta Reality Labs achieved its highest revenue yet in Q4 2023, over $1 billion for the first time.
Reality Labs is the division of Meta behind Quest headsets, the Ray-Ban smart glasses, Meta Avatars, Horizon, and research & development toward AR glasses and their neural wristband input device.
In the Q4 earnings call today Meta reported $1.07 billion Reality Labs quarterly revenue.
Being the holiday season, Q4 has always been the strongest quarter for Reality Labs since Meta started breaking out its financials in Q4 2020. But Q4 2023 was the strongest ever by far.
Meta CFO Susan Li said this record revenue was “driven by Quest 3 sales over the holiday season”. Quest 3 launched on October 10, and Q4 includes October, November, and December.
For comparison, Apple has reportedly sold just over 200,000 Vision Pro preorders, equating to over $700 million in revenue.
Meta Reality Labs also reported its highest ever costs however, $5.72 billion, resulting in a $4.65 billion quarterly “loss”.
This is a breaking story. This article will be updated soon with further context and quotes from the earnings call.
