Meta Platforms Inc. reached an all-time high stock price of $614, reflecting a substantial year-to-date increase of 77% and driven by robust AI investments.
In Q3, Meta's revenue surged to $40.6 billion, driven by a 7% rise in ad impressions and an 11% increase in ad pricing, highlighting effective advertising strategies.
Meta's investments in AI resulted in increased user engagement on Facebook and Instagram, with time spent on these platforms rising by 8% and 6% respectively.
Threads, Meta's text-based platform, has rapidly grown to nearly 275 million monthly active users, thanks to the company's successful integration of AI in social media.
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