The latest financial report of American technology giant Meta shows that its metaverse business is still losing billions of dollars every quarter. Meta released its third-quarter financial report on Wednesday, saying that its Reality Labs division, which develops augmented reality and virtual reality technology, suffered an operating loss of $4.43 billion. The loss was slightly smaller than the $4.68 billion expected by analysts surveyed by StreetAccount. Reality Labs' revenue in the third quarter increased 29% year-on-year to $270 million. Reality Labs mainly makes money by selling Meta's Quest VR headset and Ray-Ban Meta smart glasses. Since 2020, Reality Labs' operating losses have accumulated to more than $58 billion.