Meta lifted revenue by 33% to $US56.311 billion in the March quarter as the social media giant used AI to strengthen its advertising business.
The average price per ad increased by 12% and ad impressions jumped by 19%.
Headcount was up just 1% to 77,986.
"We had a milestone quarter with strong momentum across our apps and the release of our first model from Meta Superintelligence Labs," said Mark Zuckerberg, Meta founder and CEO.
"We're on track to deliver personal superintelligence to billions of people."
Will Easton, managing director, Meta ANZ, said AI investments are increasingly translating into real outcomes for businesses in Australia and New Zealand.
“We’ve rolled out advanced tools this quarter, including Muse Spark, our most advanced AI model to date, and Meta AI for Business, giving businesses smarter ways to manage campaigns, optimise ads, and engage with customers,” he said.
“With the upcoming open beta of Meta ads AI connectors, ANZ advertisers will be able to connect their Meta account directly to any AI agent for campaign analysis and optimisation.
“AI is transforming what's possible, and we're committed to ensuring businesses of all sizes across ANZ have the tools to make the most of this opportunity.”
Emarketer senior analyst Minda Smiley said Meta’s impressive growth once again illustrates that AI continues to bolster its sprawling advertising business.
"While it’s starting off the fiscal year on a strong note, a dark cloud hangs over the company,” Smiley said.
“As social media bans for teens continue to pick up steam around the world, Meta is dealing with the fallout from two landmark verdicts in the US, both of which found the company liable for harming minors who use its platforms.
“It’s too early to gauge to what extent these regulatory and legal challenges will impact Meta’s business or trajectory in the long run. But concerns surrounding children’s safety on social media are unlikely to let up anytime soon, and investors will want a clearer understanding of how the company intends to quell them.
"Meta’s ambitions in the AI race came into clearer focus with this month’s release of its latest AI model, its first under revamped leadership.
“Yet the bigger picture is still fuzzy, as questions remain regarding how Meta plans to position the model against more established competitors, let alone monetize it. For Meta, the clock is ticking, especially considering how much money it is pouring into AI."
"Even with a strong underlying business, it’s clear that the company faces its fair share of lofty questions regarding its future. And as Meta officially abandons the metaverse, sceptics aren’t sure if the company has what it takes to chart a fresh path forward."
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