CEO Mark Zuckerberg warns investors it might take a while before Meta's A.I. bet pays off. Total costs increased by 7% due to A.I.-related expenses.
Meta's core advertising business is thriving, reporting a 22% increase in revenue to $39 billion. Quarterly profit soared 73% to $14.47 billion.
Susan Li, Meta's CFO, states generative A.I. products won't drive revenue significantly in 2024 but will create new revenue opportunities over time.
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