"Quest brand has never been stronger": Meta's Reality Labs hits major targets ahead of earnings report
XR division sees 40% revenue growth as Quest becomes the top gaming device. Ray-Ban Smart Glasses success adds momentum to Meta's hardware push.
According to an internal memo obtained by Business Insider, Meta's Reality Labs division has surpassed nearly all its revenue and user targets for 2024. In a post on Meta's internal Workplace forum, Chief Technology Officer Andrew Bosworth outlined a reorganization plan while sharing details about the department's performance.
Bosworth noted that Reality Labs saw a 40% increase in revenue during 2024, adding that the Quest brand is performing better than ever.
Here are the key quotes from the report:
"2024 was a pivotal year for Reality Labs and positioned us for greatness in 2025"
AdAd"The team beat nearly all of last year's aggressive sales and user goals, growing RL sales >40% YoY overall"
"We are seeing massive sales growth in wearables and the Quest brand has never been stronger."
Meta Quest and Ray-Ban smartglasses a success
The Reality Labs division oversees several key projects beyond Meta Quest and the HorizonOS XR operating system, including the "Orion" AR glasses, an EMG wristband, and the Ray-Ban | Meta Smart Glasses.
Signs point to a strong holiday season for Meta's XR products. The company's Horizon app, required for Quest headset setup, topped Apple's App Store free downloads chart during Christmas. Reports indicate also that the Meta Quest 3S became the best-selling gaming console on Amazon.com in 2024, outperforming the Nintendo Switch, PlayStation 5, and Xbox Series consoles.
The division's Ray-Ban | Meta Smart Glasses have also proven successful. Ray-Ban's parent company EssilorLuxottica reports the Smart Glasses are the top-selling product in 60 percent of Ray-Ban stores across the EMEA region — even without AI features, which haven't yet launched in Europe.
Meta plans to release its official fourth-quarter results later today during its scheduled earnings report.
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