Meta announced earlierSecond quarter financial results for fiscal year 2024, of which the company achieved revenue of US$390.7 billion, an increase of 22% over the same period last year, and net profit of US$134.6 billion, an increase of 73% over the same period last year.
Among them, the average daily number of users of the Family of Apps, including Facebook, increased to 32.7 billion, a 7% increase compared to the same period last year, and the number of advertising exposures increased by 10% year-on-year.
Of the $390.7 billion in revenue, $387.2 billion came from the app family, while approximately $383.3 billion was advertising revenue, an increase of 21.7% over the same period last year. The remaining revenue was $3.9 million, a growth rate of 73%, and the app family profit was $193.3 billion, an increase of 47% over the same period last year.
As for the mixed reality (Reality Labs) department, revenue accounted for US$3.5 million, an increase of 28% compared with the same period last year, but the profit showed a loss of US$44.9 billion, which was higher than the loss of US$37.4 billion in the same period last year.
Regarding the financial report results, Meta CEO Mark Zuckberg stated that the company will use artificial intelligence to strengthen its advertising business, thereby helping advertisers identify content that users may be interested in and then deliver more appropriate advertising content to them. He believes that in the future, advertisers will only need to set advertising goals and budget amounts, and Meta's artificial intelligence technology will be able to optimize advertising delivery.
Regarding the development of its artificial intelligence technology, Mark Zuckberg emphasized that its continuously improved Llama open source artificial intelligence model will grow significantly, and he also expected Meta AI to become the world's most widely used artificial intelligence digital assistant service by the end of this year.
