Technology

Facebook owner Meta to lift veil off its metaverse business

Since October, Facebook has renamed the company, articulated a vision of the internet where people can digitally connect through virtual-reality avatars or teleport to see places like ancient Rome, and helped trigger the metaverse investment craze. When the company, now Meta Platforms Inc (FB.O), reports fourth-quarter results on Wednesday, investors will get a new window into the financial impact of CEO Mark Zuckerberg’s current passion. Meta plans to break out the results of its augmented and virtual-reality hardware unit, Reality Labs, for the first time, an investment the company previously warned would cause a $10 billion hit to 2021 profit and would not be profitable “any time in the near future.”

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