(Reuters) – Meta announced on Wednesday that it had recorded exceptional costs of nearly $16 billion in the third quarter linked to US President Donald Trump’s vast budget reform.
The group’s stock lost 8% in post-closing stock market trading.
The company now expects its capital expenditures to be between $70 billion and $72 billion, compared to its previous estimate of between $66 billion and $72 billion.
Meta continues to benefit from its large user base. The group’s advertising platform powered by artificial intelligence (AI) allows advertisers to automate their campaigns, improve the quality of their video ads, translate ads and generate images to target different types of customers.
The group launched advertisements on its messaging platform WhatsApp and on its social network Threads, directly competing with platforms like X.
The social network Instagram continues to compete with platforms like TikTok or Youtube in terms of advertising in the short format video market.
Meta is investing massively in artificial intelligence (AI), as are many major “tech” players, in particular to achieve “superintelligence”, a step which would see machines surpass human thinking capacities.
Meta’s aggressive investment strategy in AI is creating significant cost pressure, although the company expects to see, in the long term, profit and revenue growth.
(Jaspreet Singh; Camille Raynaud)
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