"We had a good quarter driven by artificial intelligence (AI) progress across our apps and business," said Meta CEO Mark Zuckerberg. "We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses."
Although Meta's revenue increased significantly, its daily active people (DAP) came in short of expectations, with 3.29 billion reported versus the anticipated 3.31 billion.
Chief Financial Officer Susan Li noted that the company continues to project significant capital expenditures growth in 2025 due to ongoing investments in AI infrastructure.
Meta Platforms, a leading stock among the 'Magnificent 7', has seen a remarkable rise of more than 67% in total return for the year to date.
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