Meta's AI-powered Ads Outperform Google, Fueling 22% Revenue Growth in Q2

Benzinga

Meta's advertising revenue grew 22% year-over-year in the second quarter to, double the growth rate of rival Google's ad business. Meta CEO Mark Zuckerberg and CFO Susan Li credited AI investments with helping boost ad performance and user engagement on Facebook and Instagram. Zuckerberg commented that AI is improving content recommendations and making ads more effective on Meta's platforms. Zuckerberg highlighted AI as the key element revitalizing Meta’s advertising, which took a hit after Apple’s 2021 iOS privacy update.

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00:00It's Benzinga, and here's what's on the block.

00:02Meta's advertising revenue grew 22% year-over-year in the second quarter to double the growth

00:07rate of rival Google's ad business.

00:10Meta CEO Mark Zuckerberg and CFO Suzanne Lee credited AI investments with helping boost

00:15ad performance and user engagement on Facebook and Instagram.

00:19Zuckerberg commented that AI is improving content recommendations and making ads more

00:23effective on Meta's platforms.

00:25Zuckerberg highlighted AI as the key element revitalizing Meta's advertising, which took

00:30a hit after Apple's 2021 iOS privacy update.

00:33For all things money, visit Benzinga.com.

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