Meta reports 27% boost in revenue to 36.5 billion, CEO Zuckerberg highlights AI and AR investments

Meta, the parent company of Facebook, has reported a 27% increase in total revenue in the first quarter, reaching 36.5 billion dollars. CEO Mark Zuckerberg emphasized Meta's commitment to long-term investments in artificial intelligence (AI) and augmented reality during the company's earnings call. The cost of revenue increased by 9% due to higher infrastructure costs related to AI investments, but Meta's augmented reality initiative, Reality Lab, reported a revenue increase of 30%. Meta is also investing in advanced recommendation systems and integrating generative AI into its apps. The company is exploring various avenues, including business messaging and potential monetization of AI interactions, to boost AI-related revenue. --- Send in a voice message: https://podcasters.spotify.com/pod/show/tonyphoang/message