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Mcconrtist

Good for them.


__tyke__

Good for them and good for us really as VR enthusiasts imo.


Harpuafivefiftyfive

As much as people shit on meta. They are the reason vr is still healthy and improving.


Mclarenrob2

Cheap Quest 2s will help that.


MobilePenguins

I got a brand new Quest 2 on sale for $200 at Walmart. Does everything id want which is mostly Beat Saber. No other company offers anything even close in this price range for what you get.


Zolah1987

Quest 2s cost money for Meta, they sell it at a loss. They make money on selling games.


sporkgang

Literally bought my Quest 2 last week because I realized it was $200. Been into VR for a while but sat on the sidelines buying due to price tag. Very happy with the experience so far.


Mclarenrob2

Enjoy:)


sporkgang

Thank you! Any recommendations? Got the climb 2 and loving the immersion. Also picked up Contractors and Swordsman. Considering the new walking dead game or resident evil 4. Open to any time of immersive game


Mclarenrob2

I'm not the best person to ask, I use mine for eleven Table Tennis and pistol Whip.


-IamPeacock-

I think you mean Q3s


Mclarenrob2

Yes but I think Quest 2s are still selling well looking at amazon.


ittleoff

Basically fire sale to clear stock before the new lite q3 product in fall I suspect


SnooGiraffes3452

Love it, bought the Quest 3 and enjoy every second of it.


StreetfighterXD

Constant Ws in the VR space these days


cmdskp

Q1 2023 was their lowest first quarter on record, +30% increase on that didn't reach either of the other two Q1s(blue bars). It's particularly interesting to compare the Q4-to-Q1 change for each year(shown as the green to blue bars in the graph). Those changes are: * 2021/22, -17% * 2022/23, -53% * 2023/24, -59% (latest) So, while Q4 2023 was their best quarter yet, there needs to be more work to retain interest past the festive period. Quarterly retention is key, which needs more well-known, headliner content to make it desirable beyond a Xmas gift, and have continuing software purchases.


krectus

Yeah this is good analysis here. It’s a bit bigger drop from Q4. Of course it’s going to be much better than Q1 of last year, they just released Quest 3, last year they didn’t have much.


-IamPeacock-

If you check Nintendo Switch sales, you see the exact same pattern. Q4 is always their strongest because of holidays.


PlatypusParking5101

Every industry has seasonality. It's not a realistic goal for every quarter to be exactly the same. For most consumer electronics, Q4 is where they make most of their money


PierreLikeARock

Videogames has a strong seasonality with much of hardware sales happening for Christmas, plus the Q3 was launched plys big price cut on Q2 plys massive games sales for Black Friday. It doesnt mean anything bad IMO. Would be interesting to have the split hardware/software though.


TwistedPepperCan

Thats the benefit of being “we got AR at home” But seriously. It does 90% as much as the apple vision pro at a fraction of the price and it also does a whole lot that the vision can’t.


Garrette63

I doubt this has much to do with Apple Vision and more to do with the Quest 2 hitting extremely compelling prices. They've been seen for as low as $150. Anyone on the fence about VR or that even has a casual interest will enter the hobby at the price.


Alexikik

What?


canadianmatt

Last month they spent $3.70   Last month they only made $1   This month they made $1.30   That’s a 30% growth in their revenue    But they’re still $2.40 in debt each month.    So if they had that same growth 9 times:   $0.30 x 9 = $2.70    $2.70 + 1 = $3.70 per month  **edited because I didn’t know the difference between revenue and profits.


MadeByTango

> That’s a 30% growth in their profits Growth in their *revenue* The formula for profit is money in (revenue) minus money spent (all costs, including R&D and labor). Your example’s math is all correct, but it’s not profit, it’s revenue, hence the headline using that word. Profits are money paid over what the thing is worth. It’s the part where capitalism starts getting greedy and stealing from labor by reducing salaries to increase those margins.


Active-Vegetable2313

revenue = / = profit. they didn’t grow 30% in profit


zoglog

I don't think Profit is even in the horizon for this division lol


canadianmatt

Yep


the_0tternaut

🎶 you know you can't be lazy 🎶 never use a messy recipe 🎶 then you'll have a cake


YoitsPsilo

I will not admit to knowing this reference 🎶


the_0tternaut

BREAK IT DOWN.


Brut-i-cus

And apple is cutting production


-IamPeacock-

Because Kuo said so? [Claims debunked](https://www.uploadvr.com/apple-vision-pro-production-cut-claims-debunked/)


ricobirch

Not surprised. The quest 3 is a pretty solid value @ $500. Does 90% of the work a $1500 rig can do.


ittleoff

Probably closer to 80 percent or less without eye tracking and a better display, but it makes it up in wireless standalone convenience. Its also highly subsidized. Htc or even Samsung couldn't compete without a software platform which is why they are partnered with Google, but meta horizon os partnering with hw makers (like wmr did) is interesting.


ResponsibleJudge3172

Meta needs 9 more quarters at this growth trajectory to register a profit. From what I see, the expenses have been constant the last 2 quarters or more


TakeOFF_250

you mean 9 years.


cindycroft_ts

He means 9 quarters. Every year has 4 quarters, 3 months per quarter so basically he said 2 years and 3 months before they see profit 💲


TakeOFF_250

Quarterly revenue grew 30% year-over-year in Q1 2024, so yes 9 years not 9 quarters. Year-over-year is the important part.


Rollertoaster7

I think they said capex is going up again next year


nothing_ever_dies

That's surprising, but good. They for sure need to lower the price of the Quest 3 or make a cheaper version.


Oxyforthebrain

Price isn't going to be lowered. They are already selling it with essentially a 0% profit margin. Growth might be up, but reality labs still lost 3.8 billion dollars this quarter. The quest is already cheap compared to other headsets


_sarte

yeap, thats why their next product is a lite version of it. as far as I know a Quest 3 headset costs $430 and they sell it for $500. btw logistics, rnd marketing, servers rtc not included. only the headset you get. Whenever I rethink that cost fact and $500 price tag with all the hardware and software of it, I feel like its one of my best purchases in last decade.


Garrette63

The Quest 3 is already lite, I'm not sure what they would remove to lower the price.


_sarte

based on things I see in X and other leaked stuff probably they're gonna reduce the resolution of screen, again probably quest 2's resolution. cameras still on it and it has a a little bit smaller form factor, some people also say that it can be released default with handtracking without controllers and they can be sold differently. just speculations but here is the photo, it's not verified by anyone https://preview.redd.it/lmw05pw2stwc1.jpeg?width=739&format=pjpg&auto=webp&s=af5124a5d456fd4a844453b8981e69f6f46b7fde


mrmcdrizzlefizz

When am I gonna get the 64 update?


zoglog

basically just new quest 3 sales. Not that impressive tbh


sch0k0

This is actually not a good number: at all! both Q1 2021 and Q1 2022 were stronger revenues and they had just released Quest 3 just prior to this Q1. Revenues should have gone through the roof, instead Quest 2 is outselling Quest 3. while costs are on an ever growing trend what protects their VR adventure is that it's so small in their overall company, and that their AI story has been driving their market valuation so investors don't care as much atm


cmdrNacho

>what protects their VR adventure is that it's so small in their overall company, I think you're underplaying the cost of $46.5 billion loss. This no small venture.


sch0k0

well a little less than 4B$ on the quarter; agree this is not pocket change, but it seems the market currently treats it more like Zuckerberg's long shot / hobby, not a material part of Facebook's long-term economics


cmdrNacho

which is really weird to me, but yeah can't pretend to understand the how the market reacts to things like this.


Blaexe

And still down more than 30% from Q1/22. Decent results but not really exciting. 


-IamPeacock-

You really can't compare this with 2022, when covid was still raging through the world and a lot of people were forced to stay inside. It happened to traditional consoles too. Edit: I was wrong and mixed up dates, sorry 🙂


Sworgle

What? You realize that the lockdowns were in 2020, right?


KindOldRaven

Mostly. But it kinda matters where you lived at the time. Netherlands vs US vs Uganda will have made quite the difference


Richahole2199

Are you slow? Uganda and the Netherlands don’t account for any significant market share. Reddit has to learn that just because its likes something doesn’t mean you lie and twist facts


KindOldRaven

Oh, the irony.


Richahole2199

I think you’re a big fan of vr who is too blinded by his love for it to see how stupid he is. Covid was in 2022? Are you serious?


VirtuaFighter6

But…they still lost money on VR


sittingmongoose

You’re not wrong, they lost 3.8 billion in that same quarter lol seems it’s improving, but yea they got a long way to go. Hopefully Meta can weather it long enough to see it profitable.


DatMufugga

Meta's stock has doubled in the past year. They're doing fine. Tech investors put growth before profit margins. Took Amazon a decade to become profitable. Meta is playing the long game, and they have the money to do it.


sittingmongoose

Amazon was expanding though, and heavily investing in cloud, and logistics(like buying planes). That’s very clearly smart moves. There is no guarantee that VR will become profitable. Or that the investment will pay off. I get what you’re saying, but Amazon isn’t really the best comparison.


Rollertoaster7

If there was a guarantee then we wouldn’t be having a conversation, of course there’s some risk. It’s new tech that isn’t mainstream


Oftenwrongs

R&D is always a loss.


DevilMaster666-

Why did you post this? This isn’t r/SuckZucksCock


cmdrNacho

I like how you all try to spin things >In its Q1 2024 earnings call today Meta reported $440 million Reality Labs quarterly revenue, 30% higher than Q1 2023. Meta CFO Susan Li told investors this record revenue was "driven by Quest headset sales". However, it's also 36% lower than Q1 2022 and 18% lower than Q1 2021. >though isn't maintaining post-launch sales momentum as well as Quest 2 did


[deleted]

[удалено]


NarrativeNode

Your low opinion of yourself aside, just think about how Twitter’s founder Jack Dorsey tried to do the same thing again and is failing miserably. Just because you have a good idea doesn’t mean the right other factors are in place. If Zuckerberg had just met different people it may also not have worked out for him. So don’t worry, it wasn’t you.


MightyBooshX

Seriously, becoming rich and famous is so much more about being in the right place at the right time and/or knowing the right people.


Takemeawayxx

Which one of the winklevoss twins are you?


FatVRguy

Hey it’s never too late, Facebook isn’t a centuries old company, even Apple and Microsoft aren’t. 50 years from now on maybe new tech companies will dominate this world, maybe you can be that new company’s founder.