Quest 3 drives huge quarterly revenue of over $1 billion for Meta’s Reality Labs
Meta’s Quest 3 headset had a strong Q4 last year. At stages over the holiday period, it was outselling Sony’s PSVR2 by 30 units to one on Amazon in the run-up to Christmas, and this has helped Meta Reality Labs, the division behind the Quest 3 and Ray-Ban smart glasses, to post its highest-ever quarterly revenue,
In the Q4 earnings call, UploadVR states that Meta reported $ 1.07 billion in quarterly revenue for Reality Labs.
Meta CFO Susan Li said to investors that the record levels of revenue were “driven by Quest 3 sales during the holiday season”
At the same time, however, Meta Reality Labs also reported its highest quarterly costs at $ 5.72 billion, indicating a $ 4.65 billion quarterly loss. Meta chief Mark Zuckerberg has previously told investors according to UploadVR, that he does not expect Reality Labs to turn a profit until the 2030s.
The Quest 3 continues to plow a lonely furrow for standalone VR at this quality and price point, with the subsidized hardware at a similar price point to the PSVR2 but without needing the additional PlayStation 5 expense on top.
The Meta Quest 3 can be used standalone and requires no room sensors, meaning it can be taken anyway, and despite average battery life has become a huge hit with embracers of virtual reality technology.
The Quest 3 can also be hooked up to a PC to provide VR compatibility with more and more games, and a recent mod opened up the world of just about any game coded in Unreal Engine to be able to be played through the Quest 3 hardware.
While VR continues to search for a killer game to take it to the masses, the ability for gamers to play more of their favorite games in the ecosystem should help further its popularity,
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