On July 30, American technology corporation Meta announced its second quarter financial report, showing a 22% increase in revenue compared to the same period last year to $47.5 billion as the social media giant continues to invest heavily in the field of artificial intelligence (AI).
Meta reported a net profit of $18.3 billion, up from $13.5 billion in the same period last year. The result far exceeded Wall Street expectations as Meta's advertising revenue jumped 21% to $46.6 billion.
Meta's Family of Apps (FoA) segment - which includes Facebook, Instagram, WhatsApp and Messenger - recorded 3.48 billion daily active users in June, up 6% year-on-year.
“We had a strong quarter of growth in both revenue and user community,” CEO Mark Zuckerberg said.
Mr. Zuckerberg also excitedly mentioned building the concept of what he called superintelligence AI for all users in the world .
After Meta released its earnings report, the group's stock price jumped 12% in after-hours trading, buoyed by positive investor sentiment.
Meta is pursuing a strategy of fierce competition with other technology corporations in the field of AI with the aim of ensuring that this technology brings social benefits and profits in the near future.
The company has launched a massive AI investment campaign, poaching top researchers from rivals like OpenAI and Apple at high salaries to develop AI superintelligence.
In a post outlining Meta's AI strategy, Mr. Zuckerberg said the rest of the decade will be a transitional period for AI development, and the company's priority is to bring AI closer to users.
Meta significantly increased capital spending to $17 billion in the second quarter, mainly for AI infrastructure, according to the release. The group estimates total capital spending this year will range from $66 billion to $72 billion.
Most analysts believe Meta will recoup these investments by improving its advertising effectiveness and creating new opportunities such as producing smart glasses through partnerships with EssilorLuxottica and the famous Ray-Ban eyewear maker.
Meta's AI team is currently led by Alexandr Wang, former CEO of Scale AI. Scale AI is a startup that Meta invested $14.3 billion in last month./.
Source: https://www.vietnamplus.vn/meta-cong-bo-ket-qua-kinh-doanh-vuot-ky-vong-post1053000.vnp
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