Grapevine

By Al Jazeera
Aug 1, 2024

Meta shares surge after tech giant reports $13.5bn profit

CEO Mark Zuckerberg says Meta AI is on track to be the most used AI assistant worldwide by the year’s end.

Revenue in the April-June period came in at $39bn, above market expectations and up 22 percent compared with the previous year, Meta said in its latest earnings report on Wednesday.

The California-based tech giant said that it expected revenue in the third quarter to come in at between $38.5bn and $41bn.

“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.