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Meta Platforms:Quarterly Results/2024 Q1: Difference between revisions
Meta Platforms:Quarterly Results/2024 Q1 (view source)
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== Earnings Call Summary == | == Earnings Call Summary == | ||
=== Family of Apps === | |||
* They are seeing healthy growth in U.S. when it comes to Family of Apps. In particular, the number of WhatsApp daily actives and messages sent in the U.S. keeps gaining momentum. | |||
* Reels now make up 50% of the time spent on Instagram. | |||
* Threads now has more than 150 million monthly actives. | |||
=== AI === | |||
* They are building a number of different AI services including Meta AI, Creator AI and Business AI. | |||
* Zuckerberg said the initial rollout of Meta AI is going well and that "tens of millions of people have already tried it." | |||
* Zuckerberg said feedback on Meta AI is positive. | |||
* They believe that Meta AI powered by Llama 3 is now the most intelligent AI assistant that can be used freely. | |||
* A lot of user attention on Meta AI has gone to its ability to generate images as you are typing. | |||
* Zuckerberg said the 400+B parameter model that they are testing and will be used in its Llama is on track to become industry-leading on several benchmarks. | |||
* '''Zuckerberg said they plan to invest significantly in AI in the coming years but that they will continue operating the rest of the business efficiently. "And this leads me to believe that we should invest significantly more over the coming years to build even more advanced models and the largest scale AI services in the world. As we're scaling capex and energy expenses for AI, we'll continue focusing on operating the rest of our company efficiently. But realistically, even with shifting many of our existing resources to focus on AI, we'll still grow our investment envelope meaningfully before we make much revenue from some of these new products."''' | |||
* Zuckerberg said historically they have seen a lot of stock volatility during times of their product playbook and they expect the same as they scale up on AI. | |||
* Zuckerberg sees building AI as the largest undertaking they have ever done. " But building the leading AI will also be a larger undertaking than the other experiences we've added to our apps, and this is likely going to take several years." | |||
* Some of the areas they plan to monetize AI include scaling business messaging, introducing ads or paid content into AI interactions, and asking people to pay for more compute. Also, AI is already improving engagement. | |||
* 30% of the posts on Facebook Feed are delivered by their AI recommendation system (2x over the last couple of years), Zuckerberg said. | |||
* For the first time, more than 50% of the content on Instagram is AI-recommended. | |||
* '''Revenue flowing through Advantage+ Shopping and Advantage+ App Campaigns has more than doubled since last year.''' | |||
* Meta Training and Inference Accelerator chip has enabled them to cut recommendations-related costs. | |||
* Metaverse continue to remain one of their long-term focus, but it seems they are now focusing more on AR glasses (Aron's thought). | |||
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== Management Guidance and Analysts' Estimate == | == Management Guidance and Analysts' Estimate == | ||