Facebook Parent Meta Loses $2.8B on Metaverse Division in Q2

Meta Platforms (FB) posted a second-quarter loss of $2.81 billion in its Facebook Reality Labs (FRL) division, which comprises its augmented and virtual reality operations, according to its earnings report released Wednesday. That was down slightly from its loss of $2.96 billion in the first quarter and better than analyst estimates for a loss of $3.67 billion for the division for the quarter, according to FactSet.