Meta's earnings indicate that its advertising business remains robust, overshadowing significant losses in its Reality Labs division which reported an operating loss of $2.96 billion. Despite the ongoing struggles and a total of $60 billion in losses since 2020, CEO Mark Zuckerberg continues to invest in metaverse technology, including AI-powered devices. Conversely, Microsoft announced impressive Q1 results, attributing growth largely to AI advancements, with cloud revenue up 33%. This underlines AI's growing importance as a revenue generator for tech companies, bolstering enterprise demand and client interest.
Meta's Reality Labs has suffered immense financial losses, reporting a first-quarter operating loss of $2.96 billion, as the focus remains on AI and advertising revenue.
Microsoft showcased AI's profitability, with $70.1 billion in revenue, driven largely by AI workloads that contributed to a 13% growth in the quarter.
Collection
[
|
...
]