$Meta Platforms (META.US)$ reported adjusted earnings of $5.16/share on revenue of $39.07B vs. estimates of $4.72/share on revenue of $38.34B, according to Bloomberg.
The firm beat most investor-watched segment figures, including spending less money overall on general Capital Expenditures. The firm pulled in record revenue, but the presentation of the earnings report began with a celebration of its AI and wearable tech developments, not its advertising cash cow.
"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," CEO Mark Zuckerberg said. "We've released the first frontier-level open source AI model, we continue to see good traction with our Ray-Ban Meta AI glasses, and we're driving good growth across our apps."
