Meta's sales of Instagram and Facebook ads surged this spring, boosting quarterly revenue to over $39 billion, a 22% increase from the previous year.

Profits reached nearly $13.5 billion, despite substantial investments in AI and virtual reality. CEO Mark Zuckerberg highlighted a strong quarter and projected Meta's AI assistant to be the most used globally by year-end.

Despite Reality Labs' $4.5 billion loss, Meta plans to spend up to $40 billion on AI this year. The workforce decreased to 70,799, with expectations of growth by the end of 2024.



(colombotimes.lk)