🧵 1. Meta Platforms, owner of Facebook, exceeded market expectations with a 22% revenue growth in Q2, driven by AI-powered advertising. Shares surged 7%. #fintech
🧵 1. Meta Platforms, owner of Facebook, exceeded market expectations with a 22% revenue growth in Q2, driven by AI-powered advertising. Shares surged 7%. #fintech
🧵 2. Meta's AI investment led to improved targeting on its social platforms, boosting ad sales by 22%. CEO Zuckerberg aims to dominate AI assistant usage globally.
🧵 3. Despite a 10% rise in ad impressions and 73% surge in net income, the growth rate slowed compared to the previous quarter.
🧵 4. Meta's investments in AI technology, including Metaverse and Generative AI, are showing positive results. Reductions in headcount have bolstered profitability.
🧵 5. With a quarterly revenue of $39.07bn, Meta anticipates a revenue range of $38.5bn to $41bn. The company reported capital expenditures of $8.47bn for Q2.
🧵 Read more at: https://www.euronews.com/business/2024/08/01/meta-intelligent-use-of-ai-gives-earnings-boost-to-facebooks-owner