Meta is still flinging the equivalent of a small country's annual GDP down the Reality Labs money pit each and every quarter

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., wears Orion augmented reality (AR) glasses during the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 25, 2024. Meta Platforms Inc. debuted its first pair of augmented reality glasses, devices that show a combined view of the digital and physical worlds, a key step in Chief Executive Officer Mark Zuckerberg's goal of one day offering a hands-free alternative to the smartphone.

Meta's second quarter earnings are in, reporting revenue of $60.80 billion. That's another record-breaking year-on-year increase of about 28%, though shares are reportedly down by about 10%. Funny, that. Now, time to take a look at how the company's famous money-hole, its VR and AR division, Reality Labs, is doing while I take a big sip of my coffee…

A $4.6 billion income loss due to Reality Labs alone this quarter? Well, there goes my keyboard. That's compared to the division bringing in $431 million in revenue. I may have only got a passing grade in Math, but even I can see those numbers don't add up.