Meta CEO just spent $18.3B on AI - here's what it means for your portfolio
Key Points
- Meta's latest earnings reveal a profit of $18.3 billion, boo...
Mark Zuckerberg just proved that throwing money at artificial intelligence can actually work—at least for one quarter. Meta's latest earnings report shows the company racked up $18.3 billion in net profit, up from last year's comparatively modest $13.5 billion. That's the kind of math that makes shareholders forget all about those awkward metaverse years.
The social media giant pulled in $47.52 billion in revenue, crushing analyst expectations of $44.83 billion like a teenager's self-esteem on Instagram. Earnings per share hit $7.14, leaving the predicted $5.89 looking rather pessimistic. The...
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