Meta, the parent company of Facebook and Instagram, reported a record quarterly profit on Wednesday afternoon, as well as stronger-than-expected sales figures, despite a minor slow down in revenue growth. Overall, Meta’s net income jumped 35% year-over-year to $15.68 billion.
“We had a good quarter driven by AI progress across our apps and business,” Meta CEO Mark Zuckerberg said in a statement.
Zuckerberg, on the company’s earnings call on Wednesday afternoon, said 500 million users are now interacting with Meta’s AI chatbot, which offers answers to users on apps like Facebook and Instagram. He also said the company would continue to invest in the long-term future potential of AI, AR (augmented reality) and VR (virtual reality), despite growing concerns from investors over mounting losses at Meta’s Reality Labs division, which has booked losses of $24.2
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