Meta’s Push Into AI Development Shows Promise With 73% Surge in Net Income
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The tech giant beat Q2 estimates, reporting revenue of $39.1 billion, up 22% from 2023
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Meta’s push into AI development is seemingly working for the tech giant, as the company reported second fiscal quarter income that soared by 73% on revenues up 22% to $39.07 billion, both of which beat analysts’ consensus estimates.
Here are the top-line results:
Revenues: $39.07 billion, up 22% compared to $32 billion in 2023
Net income: $13.47 billion, an increase of 73% compared to $7.8 the year prior
Daily active users: 3.27 billion on average for June, up 7% 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,” Meta founder and CEO Mark Zuckerberg said on Wednesday.
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