Zuckerberg lauds “strong momentum” with AI as Meta reports $15.7 billion in profit
Meta reported Q3 earnings, posting a $15.7 billion profit for the quarter — a 35% increase year over year — with revenues of $40.6 billion growing 19% from last year.
“We had a good quarter driven by AI progress across our apps and business,” Meta CEO Mark Zuckerberg said in a press release. He added, “We also have strong momentum with Meta AI, Llama adoption, and AI-powered glasses.”
In Q3, Meta’s capital expenditures grew 8% to $9.2 billion. Despite the mentions of AI and those AI glasses, investors weren’t excited and Meta’s stock was basically flat in after-hours trading.
In Q3, Meta’s capital expenditures grew 8% to $9.2 billion. Despite the mentions of AI and those AI glasses, investors weren’t excited and Meta’s stock was basically flat in after-hours trading.
