Meta takes off in the last quarter with 11% growth
Posted: Sun Jan 05, 2025 7:23 am
Meta has once again found its way back to the growth that has eluded it in recent months . The value of the shares of the company led by Mark Zuckerberg soared by 7% on the stock markets yesterday after Meta announced an 11% increase in its turnover in the period between April and June 2023 and exceeded the initial expectations of analysts.
The company earned $32 billion in the second quarter of the year , compared to the $31.12 billion estimated by analysts.
This is Meta's most profitable quarter dominican republic phone number data since 2021 and was particularly boosted by the exceptional performance of the company's short video format: Reels.
“I’m really proud of our teams for everything we’ve accomplished this year so far,” said Mark Zuckerberg, CEO of Meta. “It’s been a tough year in many ways, but it’s also been a very effective year. I’m pretty optimistic about the path ahead ,” he added.
Meta's latest quarterly results mark a change of direction for the company after its controversial rebranding, its shift to the metaverse and the multiple layoffs carried out in the last year. In recent months, Meta has launched a myriad of new products and has put the increasingly ubiquitous artificial intelligence in the spotlight.
Meta continues to invest heavily in the metaverse
Meta recently introduced a new version of its open source language model LLaMA in collaboration with Microsoft . But the company's most hyped launch has been Threads , an alternative social network to Twitter that surpassed 100 million users in a span of just five days. However, after its glittering debut, interest in Threads has noticeably waned in recent days.
Although Meta has begun to look into AI in recent months, the company still has its sights firmly set on the metaverse. In fact, the group will soon launch Quest 3, its new generation of virtual reality headsets, which promises to be the most powerful to date, according to Zuckerberg.
However, the fact is that Reality Labs, Meta's division dedicated to the metaverse , continues to translate into huge losses for the company . In the second quarter of the year, Reality Labs recorded operating losses of 3.7 billion dollars and Meta does not expect these to subside either.
The company earned $32 billion in the second quarter of the year , compared to the $31.12 billion estimated by analysts.
This is Meta's most profitable quarter dominican republic phone number data since 2021 and was particularly boosted by the exceptional performance of the company's short video format: Reels.
“I’m really proud of our teams for everything we’ve accomplished this year so far,” said Mark Zuckerberg, CEO of Meta. “It’s been a tough year in many ways, but it’s also been a very effective year. I’m pretty optimistic about the path ahead ,” he added.
Meta's latest quarterly results mark a change of direction for the company after its controversial rebranding, its shift to the metaverse and the multiple layoffs carried out in the last year. In recent months, Meta has launched a myriad of new products and has put the increasingly ubiquitous artificial intelligence in the spotlight.
Meta continues to invest heavily in the metaverse
Meta recently introduced a new version of its open source language model LLaMA in collaboration with Microsoft . But the company's most hyped launch has been Threads , an alternative social network to Twitter that surpassed 100 million users in a span of just five days. However, after its glittering debut, interest in Threads has noticeably waned in recent days.
Although Meta has begun to look into AI in recent months, the company still has its sights firmly set on the metaverse. In fact, the group will soon launch Quest 3, its new generation of virtual reality headsets, which promises to be the most powerful to date, according to Zuckerberg.
However, the fact is that Reality Labs, Meta's division dedicated to the metaverse , continues to translate into huge losses for the company . In the second quarter of the year, Reality Labs recorded operating losses of 3.7 billion dollars and Meta does not expect these to subside either.