With the end of the first quarter of 2024, companies started to publish their financial reports. Finally Meta He also shared his financial data. So how much money did the company make? At work Meta‘s financial report for the first quarter of 2024 and its income…
How much revenue did Meta generate?
According to shared information Meta, generated a total revenue of $36.46 billion. At this point expectations were for $36.16 billion. The company’s net income was announced as 12.37 billion dollars. This figure has more than doubled compared to the previous year.
While the company’s advertising revenues increased by 27 percent to 35.64 billion dollars, the most curious Reality Labs unit had a revenue of 440 million and a loss of 3.85 billion dollars. Total losses since the end of 2020 have exceeded $45 billion.
Meta introduced its own operating system! Even Microsoft will use it
Meta named its VR-focused operating system Horizon OS. It was announced that this operating system will be used by different companies.
Sales and marketing costs 16 percent reducing by Metain the second quarter of the year $36.5 billion with $39 billion It expects to earn an income between . We will see together whether the company can achieve its goal.
Metahas been spending a lot of time on artificial intelligence studies lately. For example, the company recently introduced Meta AI, a rival to ChatGPT developed by OpenAI. In fact, it has already started working to integrate this chat bot into social media platforms Instagram, Facebook and WhatsApp.
In addition, the company also made an agreement with semiconductor manufacturer Qualcomm that will make smartphones smarter. For this reason, the company seems to make a name for itself in the coming periods.
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