Meta Platforms forecast third-quarter revenue above market expectations on Wednesday, sending shares up on signs that the improving economic environment will boost ad spending.
Facebook's new rebrand logo Meta is seen on smartphone in front of displayed logo of Facebook, Messenger, Instagram, Whatsapp and Oculus in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photoforecast third-quarter revenue above market expectations on Wednesday, sending shares up on signs that the improving economic environment will boost ad spending.
"We continue to see strong engagement across our apps and we have the most exciting roadmap I've seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall," Meta Chief Executive Mark Zuckerberg said. The social media giant has been climbing back from a bruising 2022, buoyed by hype around emerging AI technology and an aggressiveThe company's shares have more than doubled in value this year as a result.
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