Meta reports “good” quarter after revenue growth, launch of Threads and AI products
The Hindu
Meta CEO Mark Zuckerberg noted a “good quarter” for the company’s community and business amidst a revenue spike.
Meta CEO Mark Zuckerberg noted a “good quarter” for the company’s community and business as the social media giant reported revenue growth of 23% year-over-year to reach $34.15 billion.
Zuckerberg earlier announced that 2023 would be Meta’s year of “efficiency” and the company proceeded to lay off hundreds of workers across its tech and business divisions.
The latest earnings report on Wednesday said that Meta’s headcount was 66,185 as of the end of September, which represented a decline of 24% when compared to last year.
“I’m proud of the work our teams have done to advance AI and mixed reality with the launch of Quest 3, Ray-Ban Meta smart glasses, and our AI studio,” said Zuckerberg, as per the company’s earnings report.
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Meta’s newly launched X-rival, Threads, recorded just under 100 million monthly active users within a few months of launch, said Instagram CEO Adam Mosseri on Thursday. Though many users have left the app due to a number of still missing features, Mosseri promised that improvements and updates would be coming soon.
Meta’s performance indicates the recovery of the online advertising market even as companies and customers cut back on spending due to the cost-of-living crisis.
The Opposition Congress demanded that the government open the Gandhi Vatika Museum, depicting Mahatma Gandhi’s legacy and freedom struggle, built at a cost of ₹85 crore in Jaipur’s Central Park last year, during the Congress-led regime in Rajasthan. The museum has not been opened to the public, reportedly because of the administration’s engagements with the State Assembly and Lok Sabha elections.
Almaya Munnettam (Lay People to the Fore), group in the Ernakulam-Angamaly Archdiocese of the Syro-Malabar Church opposed to the synod-recommended Mass, rejected a circular issued by Major Archbishop Raphael Thattil and apostolic administrator Bosco Puthur on June 9 to implement the unified Mass in the archdiocese from July 3.
Pakistan coach Gary Kirsten stated that “not so great decision making” contributed to his side’s defeat to India in the Group-A T20 World Cup clash here on Sunday. The batting unit came apart in the chase, after being well placed at 72 for two. With 48 runs needed from eight overs, Pakistan found a way to panic and lose. “Maybe not so great decision making,” Kirsten said at the post-match press conference, when asked to explain the loss.