Big Five tech player Meta is still burning through cash through its Metaverse research and development arm, Reality Labs, with a $3.67 billion loss recorded for the third quarter of 2022, indicating that those losses they will deepen further next year.

The third quarter of 2022 of the company Profits published on October 26 show Reality Labs’ biggest ever quarterly loss from earnings dating back to the fourth quarter of 2020, the company also posted $285 million in revenue for the third quarter, the lowest on record at that time.

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