Meta More Than Doubled Revenue From its AI-Powered Ad Tool
by Adweek
Adweek— AI continues to drive Meta's year-long recovery. Revenue from its Advantage+ Shopping Campaigns (ACS) more than doubled since last year, Meta CEO Mark Zuckerberg said during the Q1 2024 earnings call. Meta, the parent company of Instagram and Facebook, reported a 27% increase in revenue, reaching $36.5 billion compared to $28.6 billion in 2023. Advertising contributed 97% of that revenue, or $35.6 billion, and the average price of ads rose 6%. “For all the recent scrutiny of its...
MediaNama—Earnings call: Meta’s Ad Revenue Hits $35.6B, emphasizes role of AI in advertising. The rise in the price of ads was driven by advertiser demand and was partially offset by impression growth from lower monetizing regions/surfaces (devices used to consume content).
Benzinga—Mark Zuckerberg-Led Meta's 'Set It And Forget It' AI Tools Misfire, Wasting Ad Budgets And Driving Away Businesses: Report. Meta is dealing with significant issues as its AI-driven advertising tools are malfunctioning, causing increased costs and decreased sales effectiveness. read more
Los Angeles Times—Meta now has an AI chatbot. Experts say get ready for more AI-powered social media. When you use Facebook Messenger these days, a new prompt greets you with this come-on: "Ask Meta AI anything." You may have opened the app to send a text to a pal, but Meta's new artificial-intelligence-powered chatbot is tempting you with encyclopedic knowledge that's just a few keystrokes away. Meta, the parent company of Facebook, has planted its home-grown chatbot on its Whatsapp and Instagram services. Now, billions of internet users can open one of these free social media platforms and...