DeeperML

Meta is experiencing growth in several key areas, alongside some financial challenges and legal settlements. Meta’s Reality Labs division, responsible for VR and AR technologies, exceeded most of its sales and user targets for 2024, growing sales by over 40% year-over-year. An internal memo confirmed strong performance in wearables and the Quest brand, with the Horizon app topping app charts on Christmas Day. While Reality Labs is making sales gains, the division continues to operate at a loss, posting an operating loss of $4.97 billion in the fourth quarter despite generating $1.1 billion in sales. The company is planning continued heavy investment in this area as part of its long term strategy.

Meta also announced its overall financial health has significantly improved, with a 21% year-over-year increase in revenue, reaching $48.4 billion, and a 49% increase in net income, totaling $20.8 billion. The company's daily active users across all platforms reached 3.35 billion in December 2024. Meta is also settling a 2021 lawsuit brought by former President Trump for approximately $25 million, regarding the suspension of his accounts after the January 6th riot. Furthermore, Meta's executives have cited DeepSeek's AI breakthrough as evidence of the success of their open-source AI strategy.

ImgSrc: ocdn.eu

References :

• africa.businessinsider.com: In an internal memo, Andrew Bosworth says Meta's Reality Labs beat nearly all its sales and user targets for 2024, growing sales ">40% YoY overall" (Jyoti Mann/Business Insider)

Classification:

• HashTags: #Meta #VR #OpenSourceAI
• Company: Meta
• Target: Meta users
• Product: Reality Labs
• Feature: Metaverse
• Type: News
• Severity: Informative