Meta reports Reality Labs Q1 revenue of $402M, vs. $488.8M est., and a $4.03B operating loss, vs. $4.82B est.; Reality Labs has $80B+ in losses since late 2020 (Jonathan Vanian/CNBC)

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Jonathan Vanian / CNBC:
Meta reports Reality Labs Q1 revenue of $402M, vs. $488.8M est., and a $4.03B operating loss, vs. $4.82B est.; Reality Labs has $80B+ in losses since late 2020 — As Meta pumps increasing amounts of cash into artificial intelligence, the company's metaverse efforts continue to bleed money.

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