Meta saw a 25 percent increase in revenue for the last quarter, with profits more than tripling. This was largely due to the success of its ads business despite a challenging period marked by layoffs and a sluggish digital advertising market. The Silicon Valley company, which owns Facebook, Instagram, and WhatsApp, also announced its first-ever dividend of 50 cents per share, a move typically associated with slower-growth companies. Despite heavy spending on capital investments, such as data centers and infrastructure, the company still reported strong financial results. Mark Zuckerberg, Meta’s CEO, expressed optimism about the growth of the company and its progress in advancing A.I. and the metaverse. Meta’s revenue for the quarter ending Dec. 31 was $40.1 billion, beating Wall Street estimates, while profit reached $14 billion. The company capitalized on the rebound in digital ads, even amid lingering caution among marketers regarding ad spending. However, Meta’s continued growth has not come without challenges, as it grapples with privacy issues and the spread of misinformation and toxic content on its platforms. Mark Zuckerberg has outlined a shift towards the metaverse and a strong focus on cost-cutting initiatives, including significant layoffs. Despite this, Meta’s platforms continue to see regular use from more than four billion people. The company is also investing heavily in artificial intelligence and data center redesign to stay competitive in the technology industry.
Meta’s Profits Triple and Company Declares Inaugural Dividend
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Instagram maintains the 13-year-old minimum age for accounts, but parents can take control, largely for their daughters’ ambitions to become influencers. Parents initiate their child’s modeling career or gain favor from clothing brands, but a dark subculture emerges, controlled by men attracted to minors, as per The New York Times. The emergence of mom-run profiles […]Read More
Beijing’s Networks Expanding Hacking Efforts China has spread its hacking reach with new tools that exploit computer vulnerabilities and a network of contracted vendors. The large scale of China’s hacking operations poses a significant threat, with the FBI reporting China’s hacking program to be larger than all major nations combined. The U.S. has tracked consistent […]Read More