Meta surprises with its profits compared to Microsoft and Google: 73% growth is due to AI
Kyiv • UNN
Meta generated $39 billion in revenue and $13.5 billion in profit in the last quarter. The company invests in AI development and plans to make its AI assistant the most popular in the world by the end of the year.
Zuckerberg's Meta group has made a huge profit thanks to a booming advertising business. The financial leaders of the Facebook group promise that the fees will be used to develop artificial intelligence. Writes UNN with reference to The Verge.
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Stable advertising revenue gave Meta a surprisingly strong quarterly result. The company earned just over $39 billion in revenue, up 22 percent from a year ago, and about $13.5 billion in profit, up 73 percent. Scale and money make it possible to make big bets, which Zuckerberg is famous for.
During Meta's earnings report, CFO Susan Lee told investors that the financial return on recent AI investments “will come over a longer period of time.” Zuckerberg promises that by the end of the year, Meta AI assistant will become the most used in the world.
For reference
Meta profit generator - free AI of the future
Unlike competitors such as Google, Meta offers its own AI “Llama” in the form of “open source”, where the program code is freely available. The company hopes that this will allow it to create its own software ecosystem that will tie users more closely to their own online networks. Meta introduced the latest version of Llama a few days ago.
Meta is currently preparing to improve Llama 4, which Zuckerberg wants to make the best model in the industry when it is released next year.
Investment in the eyewear group EssilorLuxottica
Regarding Meta's recent talks about investing in eyewear giant EssilorLuxottica: Zuckerberg said nothing about the investment, but said he was excited about creating “future generations of AI glasses.
Innovative virtual reality headset
Although the metaverse seems to have taken a backseat to Meta in recent quarters, Zuckerberg mentioned that Quest 3 sales are exceeding the company's expectations, although he did not specify what those expectations were. Sources say that a cheaper version of the headset will be announced at the Connect conference in September.