Meta Spent Nearly $10 Billion On Metaverse in 2021 Dragging Down Profit

When founder and CEO of Meta, Mark Zuckerberg announced the platforms aspirations for a new chapter in humanity – “Metaverse,” he also mentioned that it would require an immense amount of time, effort, and money. Earlier this week the Reality Labs division of Meta announced a $3.3 Billion dollar loss in it’s fourth quarter bringing the 2021 total loss to nearly $10 Billion. Shares for the platform also plummeted more than 20% in late trading after Reality Labs announced the missed profit estimates. Still clinging to total belief in Meta their CFO told reporters that he expects operating losses to “increase meaningfully” in 2022. Stay tuned for more information soon.

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