Meta Q2 2024 report is here and it looks promising.
First off, on users, Meta’s “Family Daily Active People” increased to 3.27 billion in Q2, up 7% year-over-year. As you can see in this graph, Meta added 30 million more users across its apps in the period, though we don’t know exactly where these users were active.
In terms of revenue, Meta brought in $39.07 billion for the quarter, an increase of 22% year-over-year.
Meta Q2 2024 Report focus is AI (Artificial Intelligence)
Meta also reports that total ad impressions delivered across its apps increased by 10% year-over-year, while the average price per ad also rose by 10%.
So more ads, at higher prices, reflecting ongoing demand, which suggests that Meta’s going to be in good shape for some time yet. As such, it will also enable to keep investing in AI and VR, where it’s still sinking billions of dollars.
As you can see in this listing, Meta lost another $4.5 billion in its Reality Labs VR division in the period, as it continues to invest in both VR and AI projects.
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