Fortune·3 min read·medium
Meta earnings reveal cash flow drops 91% - while Zuckerberg writes op-eds about superintelligence
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Barbara Ortutay, The Associated Press
✦AI Summary
Meta reported a 14% decline in quarterly profit despite a 28% increase in revenue, citing legal and severance costs. CEO Mark Zuckerberg continues to emphasize the company's focus on AI development and its potential for future growth.
Meta Platforms said Wednesday its second-quarter profit declined even as revenue beat Wall Street’s expectations, as legal expenses and severance costs for recent layoffs weighed on its results.
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