Meta reaches stock records after reporting quarterly earnings

Meta Informed Revenue of $ 47.52 billion for its second quarter ending June on Wednesday, 22% year-on-year and more than that $ 44.8 billion Analysts expected. On Thursday, Meta Stock reached one Record high $ 784.75, crossing from the previous record $ 738.09 Arrived on 30 June.

Meta CEO Mark Zuckerberg said Call on Wednesday with analysts In the quarter, this increase occurred due to the use of AI technology of meta, allowing the company to run more advertising revenue.

Nicola Mendelsohan, the head of the Global Business Group in Meta, echoed Zuckerberg’s remarks. One in LinkedIn Post On Wednesday, Mendelsohan wrote that the quarter’s strong performance was largely operated by AI, which unlocks more efficiency and profit in our advertising system. “

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At the time of writing, the market was the market value $ 1.96 trillionAbout 11.5%on Thursday morning.

A contributor to increase the revenue of Meta was smart glasses. Meta released the Ray-Ban Meta frames in October 2023 in partnership with Essilorloxottica. The device allows users to take photos, interact with Meta AI and call. Sell glasses More than two million pairs since launchWith essilorloxottica Its earnings revealed in the report Earlier this week, the frame sales for the first half of the year compared to the previous year were more than three times.

The unexpected success of Ray-Ban Metas inspired Meta to launch another pair, this time Partnership with OkleLast month.

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During the Meta’s second quarter earnings call, Zuckerberg predicted that smart glasses would convert other gadgets into “primary computing devices”, the main methods interact with users AI.

“I think glasses are basically a factor for AI,” Zuckerberg Said on call,

^{Meta CEO Mark Zuckerberg of Meta is wearing Ray-Ban Meta Glasses. Photo by Gilbert Flores/Variety via Getty Image}

While Meta was brought in more revenue than the previous quarter, the tech veteran is also projecting to spend More on AI expenses,

Meta said in the income report on Wednesday that capital expenditure, including paying on AI -related costs and financial leases, will cost at least $ 66 billion this year with a previous forecast of at least $ 64 billion. The expenditure for the quarter was $ 17 billion.

Connected: According to Mark Zuckerberg’s new blog post, Meta’s AI superintendent attempt is different from ‘others in the industry’.

Before the report of earnings surfaced, Zuckerberg wrote A blog post Regarding their vision for AI – to bring the human intellect into the hands of every person – to supervise, or AI. The CEO of the meta stated that their purpose is to give people a “more and more agency” to shape the world, which is contrary to its approach with “others in the industry”, which believes that AI should first automate humanity to automatically automatically to automatically intervene before living on the measured amount of its output.

Meta has invested heavily in the superintendent, offering new fare up to $ 200 million in compensation packages. Last month, Meta announced a new Superintendent Labs Team, which was collecting talent from AI companies such as Openai, Google and Anthropic to work on the effort.

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