Meta Platforms sales soar to record, bolstering Zuckerberg’s AI spending spree

Revenue has soared for Meta's platforms. (Image: File)

Thu, 30 Jan 2025

By Meghan BobrowskyMeta Platforms posted record revenue in the fourth quarter, aided by artificial intelligence improvements to its ads business.The Facebook and Instagram parent reported a 21% increase in sales and US$20.8 billion (NZ$36.74b) in net income, both ahead of analyst expectations.Meta estimated that revenue growth would slow in the January-to-March quarter, reaching 8% to 15%, a level that would represent the lowest increase in two years.The company’s shares rose by about 5% in after-hours trading Wednesday, following a rally...

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