Meta Platforms Reports Record Sales in First Quarter Despite Escalating AI Expenses
Wednesday, 24 April 2024, 20:32
Meta Platforms reported record first-quarter sales
Meta Platforms, formerly known as Facebook, demonstrated impressive growth in its advertising business in the first quarter. The company's strong performance was driven by innovative AI-powered solutions.
Costs rise in AI arms race
Despite the record sales, Meta experienced challenges with escalating costs, particularly in the competitive AI landscape. The company faced increasing expenses as it continued to invest in cutting-edge AI technology to maintain its competitive edge in the industry.
- Meta's ad business keeps rolling
- AI-powered momentum drives sales
- Challenges with rising costs
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