"We had a good quarter driven by AI progress across our apps and business," Meta co-founder, CEO and chairman Mark Zuckerberg said in prepared remarks.
Meta is dramatically boosting its investment in artificial intelligence, which has become a Silicon Valley arms race.
For Q3 2024, Meta's Reality Labs business, which includes the Quest AR/VR headset and metaverse initiatives, posted sales of $270 million (up from $210 million in Q2).
Meta expects fourth quarter 2024 total revenue to be in the range of $45 billion-$48 billion, in line with analyst expectations.
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