“We continue to see strong engagement across our apps and we have the most exciting roadmap I’ve seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall.” “We had a good quarter,” Meta CEO Mark Zuckerberg said in a statement accompanying the results. The company reported profits of $7.79 billion for the quarter, a 16% increase compared to last year, also beating analysts’ estimates. The results mark Meta’s second consecutive quarter of revenue growth after a brutal 2022, which was notable for revenue declines. The Facebook-parent company on Wednesday reported revenue of $32 billion for its quarter ending in June, marking an 11% increase compared to the same period last year and beating Wall Street’s expectations. Meta’s “year of efficiency” seems to be paying off.
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