After US stock markets closed on Wednesday Metareported its second-quarter results. With this statement, the tech giant appeared to beat analysts’ expectations, both in terms of earnings per share and revenue. The company’s advertising sales were cited as the main source of this revenue.

On the other hand, Meta’s artificial intelligence initiative MetaAI As the company continued to make losses, CEO Mark Zuckerberg defended productive investments in artificial intelligence, stating that it would take years for these investments to start generating revenue. Meta’s total profit during this period $13.45 billion while earnings per share $5.16 happened.

Meta stocks rise 6%

Zuckerberg says Meta AI’s chatbot By the end of 2024 Zuckerberg said it was on track to become the most widely used chatbot in the world and stressed that the signs were promising so far. Following the announcement, Meta shares gained 6 percent in after-hours trading.

Meta CFO Susan Li said they expect the company’s headcount to be higher at the end of the year than at the end of 2023. Meta, since 2022 more than 20 thousand terminated the employee’s employment and announced 2023 as ““year of productivity” He declared as.

Li also said that the company divided its investment in artificial intelligence into two categories: basic and productive, adding that productive artificial intelligence will be announced this year. They don’t expect this to generate meaningful revenue he claimed. Li, “We feel like we have a good framework to think about where the opportunities lie and use them in the most meaningful way,” he said. he said.