Meta, the parent company of Facebook, announced the results of the second quarter profits, on Wednesday, bypassing expectations and making better expectations than expected for the third quarter.
The company expects to achieve revenues ranging between 47.5 billion dollars and 50.5 billion dollars in the third quarter, which greatly exceeds the estimates of the “Wall Street” of $ 46.2 billion.
A jump in the arrow and the profit numbers
Meta’s share jumped by more than 8 percent as soon as the results were announced. In the second quarter, “Mita” achieved a profit for the share of $ 7.14, on revenues of $ 47.5 billion. Analysts expected a profitability of the share of $ 5.89, on revenues of $ 44.83 billion, according to Bloomberg estimates.
The company witnessed a profitability of the share of $ 5.16 and revenues of 39.07 billion dollars in the same period last year.
Advertising revenues amounted to $ 46.5 billion, compared to the expected of $ 44.07 billion. The “Reality Labs” sector recorded a loss of $ 4.5 billion, compared to a loss of $ 4.8 billion.
The huge “dead” spending on artificial intelligence
The announcement of profits comes amid a wave of extensive spending and employment by “dead” in the field of artificial intelligence. Last week, CEO, Mark Zuckerberg, announced the appointment of Chengjia Zhao, a former researcher at the company «Open II», who helped develop the company’s “Chat BT” model, founder and chief scientist at the “Supernteigence LAB” laboratory, which is affiliated with Mita.
Before Zhao, Mita invested $ 14.3 billion in Sky Eye and used its CEO, Alexander Wang. The former CEO of “GitHub”, Nat Friedman and CEO of “Safe Superintelligence”, Daniel Gross. Zuckerberg, head of the main artificial intelligence models department in Apple, attracted Roming Bang, according to Bloomberg.
Meta is also invested in artificial intelligence data centers, where Zuckerberg said last week that the company is investing hundreds of billions of dollars to build many multi -graga databases throughout the country. One of these facilities, called “Hyperion”, will expand in the end to support up to 5 GB, or 5 billion watts, of capacity.
