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International Business Times
International Business Times
Business

Meta Posts Big Profit, Plans Massive AI Investment

Meta Mark Zuckerberg United States Artificial Intelligence Facebook Instagram WhatsApp
Meta, the parent company of Facebook, Instagram, and WhatsApp saw its net income soar 59 percent to $62.36 billion in 2024 (Credit: AFP)

Social media giant Meta on Wednesday reported surging profits and revenue for 2024, announcing ambitious plans to expand its artificial intelligence infrastructure in the year ahead.

The parent company of Facebook, Instagram, and WhatsApp saw its net income soar 59 percent to $62.36 billion for the full year, while fourth-quarter profits jumped 49 percent to $20.84 billion.

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