Instagram and Facebook ads drive profit surge

Sales of Instagram and Facebook adverts soared this spring, delivering a surge in profits for parent company Meta. Meta has been spending huge amounts on AI as well as augmented and virtual reality products such as its headsets which let users "Jump into" their favourite games or exercise classes. Analyst Mike Prolux said Meta was "Well positioned" to deliver on AI tools. "In a way it's a smart move by the company to, effectively, introduce Meta AI to its users by forcing them to use it," he said. Meta said its global workforce now stood at 70,799, down from a peak of more than 87,000 employees in 2022.

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