Meta's Reality Labs lost over $4.6 billion in second quarter

Meta’s Reality Labs reported a $4.62 billion operating loss in the second quarter, slightly better than StreetAccount estimates of a $5.07 billion loss, but still underscoring the heavy cash burn in Meta’s metaverse and wearable-device bets. Revenue rose to $431 million from $370 million a year earlier, yet losses widened versus $4.53 billion last year. The unit has now accumulated more than $80 billion in operating losses since late 2020. The update matters for Meta investors because it highlights ongoing pressure on profitability from Reality Labs even as the division shifts toward products with clearer consumer traction, such as Ray-Ban Meta glasses, after the broader VR market failed to gain wide adoption.