The social media company’s revenue was largely driven by advertising revenue in the quarter ended 30 June.
The company yesterday announced its financial results for the quarter ended 30 June, revealing revenue saw an increase of 22% year-over-year.
Advertising impressions delivered across Meta’s family of apps increased by 10% year-over-year, while average price per ad increased by 10% year-over-year. “We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year,” says Mark Zuckerberg, Meta founder and CEO.
“We expect full-year 2024 total expenses to be in the range of $96 billion to $99 billion, unchanged from our prior outlook. For Reality Labs, we continue to expect 2024 operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and investments to further scale our ecosystem.”
Facebook Instagram Mark Zuckerberg Susan Li Whatsapp Reality Labs Metaverse Social Media
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