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Meta says 10 million people in the US and Canada built Muse agents
Meta's workforce fell 12% to about 66,000 after layoffs affecting approximately 8,000 people over the summer. As the company increased its investment in artificial intelligence, it reported $64.6 billion in third-quarter revenue and forecast $73 billion to $76 billion for the fourth quarter.
Meta CEO Mark Zuckerberg said more than 10 million people in the US and Canada had built personal agents through the company's Muse artificial intelligence assistant over the past month and a half.
Figures presented during the company's third-quarter earnings call showed that Meta's workforce fell 12% from the previous quarter to approximately 66,000 after layoffs during the summer.
The summer layoffs affected approximately 8,000 people, corresponding to about 10% of Meta's total workforce. Meta Chief Financial Officer Susan Li provided the workforce figures during the earnings call.
Capital spending on artificial intelligence
Meta, the parent company of Facebook and Instagram, is expanding its investments in artificial intelligence infrastructure and services. The company maintained its full-year capital expenditure forecast at between $135 billion and $145 billion while raising the lower end from $130 billion to $135 billion.
The spending is expected to support the computing infrastructure needed to run artificial intelligence agents and foundation models.
Revenue rose in the third quarter
Meta's third-quarter revenue reached $64.6 billion. The figure represented a 26% increase from the same period last year and exceeded analyst expectations.
The company expects to generate between $73 billion and $76 billion in revenue in the fourth quarter. The midpoint of the forecast range is also above analysts' estimates.
Meta shares gained approximately 2.5% in after-hours trading following the announcement of the results.
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