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Oculus Quest store surpasses $1bn in revenue

That's pretty meta.

Not to be outdone by the traditional platform holders, Facebook parent company Meta announced its earnings yesterday - and revealed the Quest content store has surpassed $1bn in purchases.

The milestone reflects a huge growth in spending on the store, which rose from a monthly average last year of $12m to $51.3m (thanks, Road to VR).

Meta's success in the VR space comes as the company faces a drop in daily active users in Facebook, the company's flagship platform, as it suffers competition from the likes of TikTok.

Meta's shares slumped by more than 20 percent in after-hours trading in New York following the announcement.

Oculus was acquired by Meta in 2014 as part of a pivot towards the Metaverse. Indeed, the company formally known as Facebook changed its name in October 2021 to reflect its new focus.

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Ishraq Subhan avatar

Ishraq Subhan

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Ishraq is a freelance games journalist. His first ever console was the PlayStation, where he found his love of games through Ridge Racer. He likes to think he’s really into story-driven games, but spends most of his time on the latest yearly Call of Duty release.

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