Meta quarterly profit more than doubles

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Meta on Wednesday reported that its quarterly profit more than doubled from last year’s figure to $11.6 billion as ad revenue climbed.

Meta said it had trimmed costs in the recently ended quarter, with layoffs and other belt-tightening measures started last year providing “greater efficiency.” Dozens of US states this week accused Meta of profiting “from children’s pain,” damaging their mental health and misleading people about the safety of its platforms.

Meta said it was “disappointed” by the suit. It said the states were singling it out unfairly instead of working with social media companies to develop universal standards for the whole industry.

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MlaStandard /  🏆 20. in PH

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