He also shared a glimps of some products that are up for launch.Īlso Read: Twitter as X: Elon Musk's firm can attract lawsuits from firms like Meta, Microsoft, and others. Sharing promising performance of the company, Meta Chief Mark Zuzkerberg said that he company will continue to see strong engagement across all apps. 'We continue to see strong engagement across our apps,' Meta chief Mark Zuckerberg Its impact can be seen on small players like Snap. As the sitatuation is improving, brands are hedging their bets, but keeping them limited to trusted platforms like Meta and Alphabet. Moreover, advertisers are reinforcing those gains by pumping more money into digital ads again after months of muted spending. Since the advent of AI, the company's shares have more than doubled in value this year as a result.Īlso read: Australia court fines Facebook owner Meta ₹111 crore for failing to disclose data collection activities The social media mamoth is still overcoming from a bruising 2022 crunch, buoyed by hype around emerging AI technology and an aggressive austerity drive in which it has shed around 21,000 employees since last fall. Analysts have expected around $31.12 billon of revenue. The company expects July-September revenue in the range of $32 billion to $34.5 billion, compared with analysts' average estimate of $31.30 billion, according to Refinitiv data.Įxceeding the market expectations, Meta recorded an 11% rise in its revenue to $32 billion in the quarter ended on June 30.
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