Login

News Post

Facebook parent Meta sees strong global ad sales while keeping AI costs in check

Economic TimesEconomic Times · 3m
Facebook parent Meta sees strong global ad sales while keeping AI costs in check

Meta Platforms, the parent company of Facebook and Instagram, exceeded market expectations for second-quarter revenue and provided a positive sales forecast for the third quarter. The company reported a 22% increase in revenue to $39.1 billion, outpacing analysts' estimates. The strong performance was attributed to robust digital advertising spending on the platforms and the success of their artificial intelligence investment in improving ad targeting and delivery systems. Meta expects continued growth from these investments in the next two years. Despite increased expenses, the company's operating margin rose to 38%. Meta's success in AI investments is seen as a positive sign for the broader AI industry. However, losses associated with its metaverse unit, Reality Labs, are expected to continue to increase.

6
View Source

Comments

More Like this

Temu is the biggest advertiser on Meta. What could go wrong?

Temu is the biggest advertiser on Meta. What could go wrong?

Meta’s News Block Causes Chaos as Canada Burns

Meta’s News Block Causes Chaos as Canada Burns

EU queries Meta about ad-free subscriptions, 'shadow-banning'

EU queries Meta about ad-free subscriptions, 'shadow-banning'

Meta to shut down misinformation monitoring tool CrowdTangle ahead of major US elections

Meta to shut down misinformation monitoring tool CrowdTangle ahead of major US elections

First crack in Nvidia AI wall? Meta set to use own AI chips in its servers in 2024 — but it will still use Nvidia H100 GPUs as well in its datacenters for now

First crack in Nvidia AI wall? Meta set to use own AI chips in its servers in 2024 — but it will still use Nvidia H100 GPUs as well in its datacenters for now

Meta's new AI chatbot trained on public Facebook and Instagram posts

Meta's new AI chatbot trained on public Facebook and Instagram posts

Google parent Alphabet beats quarterly revenue estimates

Google parent Alphabet beats quarterly revenue estimates

Meta faces $3.6 million fine in Brazil for allowing bogus Havan ads

Meta faces $3.6 million fine in Brazil for allowing bogus Havan ads

Meta to be hit with first EU antitrust fine for linking Marketplace and Facebook, sources say

Meta to be hit with first EU antitrust fine for linking Marketplace and Facebook, sources say

Meta's Facebook says it is attracting most young adults in 3 years

Meta's Facebook says it is attracting most young adults in 3 years

Download the medial app to read full posts, comements and news.