Mark Zuckerberg Takes A Veiled Swipe At Elon Musk? Meta CEO Says He Is Pleased With The Progress Facebook Is Making With Young Adults Despite The ‘Public Narrative’ – Meta Platforms (NASDAQ:META)

Meta Platforms, Inc. META CEO Mark Zuckerberg has expressed satisfaction with the corporate’s social media platform, and Facebook’s progress amongst younger adults, contradicting the prevailing public narrative.

What Occurred: On Wednesday, throughout Meta’s second-quarter earnings name, Zuckerberg highlighted the expansion of Meta’s consumer base, which now exceeds 3.2 billion day by day customers throughout its apps.

He spoke in regards to the firm’s success within the U.S., with WhatsApp reaching over 100 million month-to-month lively customers and 12 months-over-12 months development throughout Facebook, Instagram, and Threads.

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“I’m notably happy with the progress that we’re making with younger adults on Facebook. The numbers we’re seeing, particularly within the U.S., actually go in opposition to the general public narrative round who’s utilizing the app,” Zuckerberg mentioned.

Meta’s CFO Susan Li additionally famous the corporate’s wholesome development in younger grownup app utilization within the U.S. and Canada. She identified that options like Teams and Market have gained explicit traction with this demographic.

“Constructing merchandise with younger adults in thoughts has been a core precedence space for the Facebook group lately, and we’ve been very inspired to see these efforts translate into engagement development with this cohort,” she acknowledged.

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Why It Issues: Meta reported income of $39.07 billion, surpassing analyst estimates of $38.31 billion within the second quarter. This marked the sixth consecutive quarter the place Meta beat analyst estimates on the highest and backside traces.

Earlier within the 12 months, Tesla CEO Elon Musk had mocked Meta’s promoting system, likening sharing a Facebook hyperlink to utilizing an AOL electronic mail deal with. This was in response to reviews about advertisers complaining about glitches on Meta’s platform.

Musk’s criticism of Facebook started lengthy earlier than he acquired Twitter in 2022. He has beforehand voiced his disdain for Facebook and urged folks to delete their accounts.

Nevertheless, in a shocking flip of occasions, Musk’s firm Tesla reactivated its presence on Facebook after a six-12 months absence in March 2024.

Worth Motion: Meta shares jumped 7.17% in after-hours buying and selling, reaching $508.87 on the time of writing. The common session on Wednesday ended with a 2.51% improve, closing at $474.83, in line with Benzinga Pro.

Pictures courtesy: Shutterstock

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Disclaimer: This content material was partially produced with the assistance of AI instruments and was reviewed and printed by Benzinga editors.