Facebook parent Meta sees strong global ad sales while keeping AI costs in check

Quick Summary:

:Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments.

Shares of the company were up 6.

Losses associated with the company's metaverse unit Reality Labs, which produces virtual reality headsets, smart glasses made with EssilorLuxottica's Ray-Ban and upcoming augmented-reality glasses, would also continue to "increase meaningfully," it said.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Forecast Platforms Meta Investments Continue Company Cent Year Billion Quarter Revenue

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 04:07:16 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 855 words

Reading Time: 5 minutes read

Sentences: 28 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21878421

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

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News Last Updated: 3 hours ago

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Publisher ID: #27

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