Tech giant Meta's Q4 2023 earnings report showed that its Reality Labs division had a loss of $4.65 billion and revenue of nearly $1.1 billion in the previous quarter. This was the largest quarterly operating loss for the division since Q4 2020, when Meta first included Reality Labs' financial data in its reports. Reality Labs' total revenue in 2023 was slightly below $1.9 billion, with over half of that revenue coming from Q4 when it released Meta Quest 3. Its total operating loss for 2023 was $16.1 billion, a YoY increase of 17.5%. Meta CFO Susan Li stated that due to the development of AR and VR products and "further investment in expanding the ecosystem," Reality Labs' losses are expected to "significantly increase YoY." Additionally, Meta's total revenue for 2023 was $134.9 billion, exceeding the expectations of Wall Street research firm Zacks and growing 16% from 2022.