Meta's Reality Labs Posts $4.62 Billion Quarterly Loss as Break-Even Remains Distant

Virtuix Holdings Inc. announced that its Omni One for Quest content library has expanded to more than 75 compatible or upcoming Meta Quest titles, including major franchises such as Forefront, Teenage Mutant Ninja Turtles, and The Boys. Since launching Omni One for Quest in June in collaboration with Meta, the company said Omni One orders have increased approximately 3X quarter-to-date compared with the same period last year, building on 72% year-over-year order growth in its first fiscal quarter. The announcement followed Meta's unveiling at Meta Connect of its next-generation Meta VR Glasses, a lightweight VR device weighing approximately 100 grams that eliminates the bulky headset and headstrap traditionally associated with VR. Through its participation in the Made for Meta program, Virtuix expects Omni One for Quest to be compatible with Meta VR Glasses, subject to successful integration and testing. Founder, Chairman and CEO Jan Goetgeluk said that as VR hardware becomes smaller, lighter and more accessible, full-body movement will become an increasingly important part of the immersive experience, and that the company is seeing strong momentum as it brings its movement technology to a broader audience.

Bloomberg reported on the 29th, citing people familiar with the matter, that Apple's new chief executive, John Ternus, is weighing a sweeping overhaul aimed at sharpening the company's engineering focus, increasing the frequency of product launches and slimming down the organization. Early-stage proposals reportedly include moving away from the traditional spring and fall product launch cycles and eliminating some middle-management layers to bring engineers closer to top executives. Ternus, who has been at Apple for 25 years and spent many years leading the hardware division, overseeing the development of multiple generations of the iPhone, took over as CEO this autumn, succeeding Tim Cook. According to the report, cost-cutting efforts are already under way, and Ternus is also exploring new revenue sources and ways to extract more value from existing products. He has told the company internally that staying competitive in the age of artificial intelligence will require faster product launches and more experimental ventures. According to Bloomberg, Apple's hardware engineering division has begun cutting engineering program management roles, affecting several program managers, including about six directors. Teams working on the Siri voice assistant, the Vision Pro headset and AI-related software development have also seen significant staff reductions, some of them tied to employee performance reviews.

Snap Inc. unveiled SPECS Intelligence, an anticipatory AI service spanning iPhone, Mac, and SPECS AR glasses, and announced enterprise-focused SPECS deployments with partners including Salesforce, AWS, NVIDIA, Trifork, and Hololight to support hands-free information access and secure, large-scale workplace use. The launch extends Snap's AR and AI capabilities beyond consumer social media into workplace productivity and business-to-business use cases. Snap's narrative projects $8.1 billion revenue and $384.0 million earnings by 2029, yielding a $7.33 fair value and 40% upside to its current price. The most bearish analysts had assumed only about 8 percent annual revenue growth and earnings of roughly US$14.8 million by 2029. The most immediate catalyst for Snap remains advertising recovery, while the biggest risk remains ongoing losses and cost pressures, and the company still faces legal and regulatory risks including recent social media addiction litigation.