US tech giant Meta Platforms has reported higher sales and profit for the April to June quarter, due to its strong advertising business.
The operator of Facebook and other social media services says sales increased 22 percent from a year earlier to 39.1-billion dollars as revenues from online advertisements grew.
Net income rose 73 percent to 13-and-a-half billion dollars.
The number of people using its social media platforms including Facebook, Instagram and Threads in June increased 7 percent from a year ago to 3.27 billion a day.
Meta recently released the latest model of its open-source “Llama 3” AI technology.
Competition to develop generative AI systems is intensifying among US tech firms.