Meta Platforms has seen tremendous growth powered by artificial intelligence, with a 22% increase in revenue to $47.52 billion and a 38% rise in earnings per share to $7.14 in the second quarter. The company attributes this success to improved content recommendations and ad targeting via AI, leading to a 22% rise in advertising revenue. Key metrics such as an 11% increase in ad impressions and a 9% increase in average ad price reflect the effectiveness of these strategies. Despite losses from Reality Labs, Meta's overall performance remains strong.
Meta's revenue soared 22% year over year to $47.52 billion, while earnings per share (EPS) jumped 38% year over year to $7.14, significantly exceeding analyst expectations.
Meta's advertising growth included an 11% increase in ad impressions and a 9% rise in average price per ad, showcasing the effectiveness of its AI initiatives.
Meta is leveraging AI to enhance content recommendations, which increases user engagement by keeping users on its apps longer, leading to more ad opportunities.
The company's Reality Labs division, focused on metaverse technologies, reported a 5% revenue increase but a significant operational loss of $4.5 billion.
#artificial-intelligence #user-engagement #advertising-revenue #meta-platforms #financial-performance
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