Revenues rose 19 per cent to $40.6 billion, slightly higher than analyst estimates

Facebook owner Meta saw net income and revenues top expectations on Wednesday as the company said it would expand investments into artificial intelligence, drawing nervousness from investors. Like its Big Tech peers, Meta is rushing into artificial intelligence as it tries to build revenue streams away from its social media core business.

Facebook owner Meta saw net income and revenues top expectations on Wednesday as the company said it would expand investments into artificial intelligence, drawing nervousness from investors. Like its Big Tech peers, Meta is rushing into artificial intelligence as it tries to build revenue streams away from its social media core business.

The Silicon Valley company, which owns Facebook, Instagram and WhatsApp, said it does not plan to slow down its investments anytime soon.

:Facebook owner Meta Platforms on Wednesday warned of "significant acceleration" in artificial intelligence-related infrastructure expenses next year, while beating analysts' estimates for third-quarter revenue and profit.The results sent mixed signals to investors about whether digital ad sales from Meta's c

Wall Street analysts expect Amazon to deliver an earnings beat when it reports quarterly results on Thursday Expanding growth in Amazon's cloud