During the earnings call, the company's chief financial officer, Susan Li, said the cost of revenue increased 9%, with higher infrastructure costs related to AI investments partially offset by 'lapping Reality Labs inventory-related valuation adjustments.'
Meta is investing in Meta AI, aiming for profitability post a multi-year investment cycle, similar to prior product transitions like Reels and Stories, according to CEO Mark Zuckerberg.
Meta is enhancing its AI capabilities with advanced recommendation systems, driving engagement by suggesting content from unconnected accounts. The relevance and personalization of recommendations are seen as opportunities for improvement.
Meta's Reality Labs segment, focusing on augmented reality and the metaverse, reported an operating loss of $3.8bn despite a revenue increase of 30% to $440m, driven by Quest headset sales.
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