Meta-platforms reach over 3 billion daily users for the first time
The Meta platforms reach three billion daily users combined for the first time. The company announces this when announcing its quarterly figures. Meta’s revenue is up 3 percent compared to last year, but profits are down 24 percent.
Facebook broke the 2 billion daily user mark in the past three months, let meta know. In total, all Meta platforms collectively achieved a record 3.02 billion users, five percent more than last year.
The total turnover amounts to 25.9 billion euros, compared to 25.3 billion in the first quarter of 2022. Profit fell from the equivalent of EUR 6.7 billion to EUR 5.2 billion. Meta’s Reality Labs division in particular took big losses; nearly $4 billion. The company expects this AR and VR division to record even more losses in the course of the year. Ad revenue, on the other hand, has grown; converted to 25.4 million euros compared to 24.4 million in the first three months of 2022.
Although Meta says its financial position is “improving,” the company plans to launch another large-scale round of layoffs next month. This should ‘promote the quality and speed of our work’, motivates Meta CEO Mark Zuckerberg in a conversation with analysts. said Engadget.
In addition, Zuckerberg emphasizes that the company will invest heavily in AI in the near future. In a conversation with investors, he says that he wants to “introduce AI agents to billions of people”, writes The Verge. It is not clear exactly what Meta plans to do with AI, but Zuckerberg does say that he wants to use generative AI for ‘chat experiences’ in WhatsApp and Messenger, ‘visual creation tools’ in Facebook and Instagram and for advertisements.
Generative AI should be used “for literally every one of our products,” and the first integrations should be available “in the coming months,” Zuckerberg says. As an example, he gives WhatsApp’s customer service, which has to work much faster with the help of ‘tens of millions of AI agents’, although no further details are mentioned. He also says that the company has not dropped the vision on the metaverse, but that the focus on AI and the metaverse are both important spearheads. Ultimately, Zuckerberg wants to use AI to “create avatars, objects, and worlds in the metaverse, and the code to tie it all together.”