Page 5 - Metaverse

Meta's profits, revenue surge in Q4 thanks to cost cuts, ad rebound

Meta Platforms Inc. tripled its profit and posted sharply higher revenue in the final quarter of 2023, boosted by a rebound in digital advertising as well cost cutting and layoffs in what CEO Mark Zuckerberg called the year of efficiency. "The company can talk all it wants to about AI and the metaverse, but it's still a social media company that gets nearly all its revenue from advertising, and advertisers still clearly love Meta, said longtime tech analyst Debra Aho Williamson. The Menlo Park, California-based parent company of Facebook and Instagram said Thursday that it earned $14 billion, or $5.33 per share, in the October-December period. That's up from $4.65 billion, or $1.76 per share, a year earlier. Revenue grew 25% to $40.11 billion from $32.17 billion. Analysts, on average, were expecting earnings of $4.82 per share on revenue $39.1 billion, according to FactSet Research. This was a pivotal year for our company. We increased our operating discipline, delivered strong ..

Meta CEO Zuckerberg apologises to parents at US Senate social media hearing

Under prodding from Republican Senator Josh Hawley, Zuckerberg stood up and addressed families who held up pictures of their children who they said had been harmed by social media

Meta, TikTok, X CEOs face questions on child safety at US Senate hearing

Senator Amy Klobuchar on Wednesday questioned what she said was inaction in the tech industry, comparing it to the response shown when a panel blew out of a Boeing plane earlier this month

TikTok CEO pledges $2 bn during testimony to protect 170 mn US Users

It's Chew's second time testifying before Congress. Last year, he was called to a hearing in the House focused on the potential national security threats stemming from its Chinese ownership

Meta sets stricter message settings for teens on Instagram, Facebook

These measures come as regulatory bodies across the globe have been raising questions about the safety of children on these social media platforms

Ads running on Meta saw return on spending increase by 32% with help of AI

Ads using AI also reduced the cost of acquisition by about 17%, Mendelsohn said in an interview with Bloomberg Television from the World Economic Forum in Davos on Thursday

WhatsApp launches voice notes, multiple admins, other features for Channels

These features include voice updates, users can now listen to voice updates. WhatsApp which has a user base of over 2 billion send seven billion voice messages daily

Google, Meta, Tiktok's debts removed from Russian state bailiffs' database

But the database, accessed by Reuters on Wednesday, still includes X (formerly Twitter) and Twitch, with fines totalling 51 million roubles ($560,730) and 23 million roubles ($252,879), respectively

Big tech firms nearly pause recruitment in India amid global slowdown

These companies have registered a 90% decline in active job postings in India in 2023 when compared to the last year, according to a report

Meta bets on new AI features across social media apps to boost appeal

Meta's core social platforms are advertising behemoths, but users on Facebook and Instagram have largely plateaued at 2 billion and 3 billion people per month, respectively

Meta announces new policy for advertisers to curb AI-curated misinformation

The policy also asks for altered media depicting a realistic event that allegedly occurred, but that is not a true image, video, or audio recording of the event, to be disclosed

Behavioural ads: Meta faces EU crackdown on leveraging personal data

Regulators signed off on the new restrictions just as Meta announced its own plan to offer an ad-free version of the social media sites if users choose to pay a fee

Industrial metaverse gains real-life traction

Digital transformation strategies are moving towards a common approach in which a single suite of diverse technologies helps bring cost, time, and resource efficiencies

Meta to lay off employees in metaverse-oriented silicon unit today

The FAST unit, which has roughly 600 employees, worked on developing custom chips to equip Meta's devices to perform unique tasks and operate more efficiently

Upping WhatsApp's payload: How Meta is monetising users in India

Its might in India is at the forefront of Meta's drive to monetise messaging with payments

Meta monetises business messaging with WhatsApp in 'key market' India

These features were unveiled at a WhatsApp Conversations event held in Mumbai. This was the second annual Conversations conference being held by the company, and the first one in India

A search for fairness

Google case will be vital for competition laws

AI 'ghost' staff: US lawmakers probe Amazon, Alphabet, Microsoft, Meta

Along with the established tech giants, the letter's recipients include the newer AI-focused firms OpenAI, Inflection AI, Scale AI and Anthropic

Meta and LG working together on Apple Vision Pro competitor: Details here

Meta has a Quest line of virtual reality headsets, which it plans to expand together with LG to take on newcomers such as Apple in the mixed reality headgear market

Govt, Meta sign three-year partnership to skill 500,000 entrepreneurs

The partnership will facilitate training of 5 lakh budding and existing entrepreneurs in digital marketing skills via Meta platforms like Facebook, WhatsApp, and Instagram in seven regional languages