The growing adoption of AI across industries, specifically in advertising, is set to drive impressive growth for Meta Platforms, positioning it for substantial earnings success over the next few years.
Bloomberg Intelligence forecasts that generative AI could grow into a $1.3 trillion industry by 2032, with advertising driven by AI expected to see an annual growth rate of 125%, reaching $192 billion.
Meta Platforms reported a 10% revenue increase year over year to $40.6 billion, with non-GAAP earnings per share rising 37% to $6.03, exceeding Wall Street projections.
The robust growth at Meta is attributed to a rise in ad impressions and an increase in the average price per ad, highlighting the effectiveness of AI integration.
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