Meta's advertising growth is proof that hefty AI spending is already paying off
Publishing timestamp: 2024-08-01 00:40:15
Summary
Meta's CEO Mark Zuckerberg and CFO Susan Li highlighted the positive impact of AI on the company's business during an earnings call. The company's advertising sales increased by 22% in the second quarter, outpacing rivals like Google. AI has helped improve recommendations, content discovery, and advertising effectiveness. Despite skepticism about Meta's AI spending, Zuckerberg urged investors to focus on the present results. The company's revenue growth was driven by advertising, with strong performance in the Asia-Pacific region. Meta's use of AI in its advertising platform has shown positive results, leading to revenue and profit growth. The company's continued investment in AI and the metaverse is expected to drive future revenue opportunities.
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