""We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs. We're on track to deliver personal superintelligence to billions of people.""
""For example, we continue to see scrutiny on youth-related issues and have additional trials scheduled for this year in the U.S., which may ultimately result in a material loss.""
Meta Platforms Inc. reported a revenue of $56.3 billion in Q1, a 33 percent increase from the previous year. The company is transitioning to an AI-focused model, which involves significant expenses and a planned 10 percent workforce reduction. Legal challenges regarding social media addiction and youth safety pose risks to its financial performance. Daily Active People reached 3.56 billion, with ad impressions and prices increasing year-over-year. Meta's full-year expense guidance remains at $162 billion-$169 billion, primarily driven by AI investments.
Read at The Hollywood Reporter
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