San Francisco - Saba:
Meta Group (Facebook and Instagram) recorded strong growth in quarterly revenues and profits, according to its financial results announced on Wednesday, despite its increasing spending on artificial intelligence and the economic disruptions caused by tariffs.
The American social media empire significantly exceeded expectations, with revenues reaching $47.5 billion in the second quarter of the current year, an increase of 22 percent year-on-year, according to its results.
Its net profit amounted to $18.34 billion, an increase of 36 percent, mainly due to the rise in ad prices and the added value that artificial intelligence provides in converting ads into purchases.