META Labs Q3 Earnings: Heavy Metaverse Spending Drives $4.4B Loss for Reality Labs

We’ve just seen the latest results from Meta Platforms, Inc. (ticker: META) for their third quarter, and the story is both strong and startling. The company reported $51.24 billion in revenue, up about 26% compared to a year ago. But behind that growth lurks a big number: its metaverse‑focused division, Reality Labs, lost roughly $4.4 billion in the quarter. We’ll walk through what these numbers mean, what’s driving the losses, how the market reacted, and what happens next for Meta. All in plain language, short sentences, and with the facts you need.