<p>Meta Platforms, Inc. 最近召开了财报电话会议，揭示了投资者和分析师之间的复杂情绪。公司展示了强劲的收入和用户参与增长，这主要得益于人工智能（AI）的进步和成功的产品发布，特别是在现实实验室方面。然而，关于费用增加、高税率和潜在监管挑战的担忧也被提出。尽管面临这些障碍，Meta 对 AI 和新产品机会的战略关注暗示了未来的积极前景。</p>
<h2>创纪录的收入和参与增长</h2>
<p>Meta 报告称第三季度总收入为 512 亿美元，同比增长 26%。这一增长伴随着其平台（包括 Facebook、Instagram 和 Threads）上显著的用户参与，表明用户基础强大且活跃参与。</p>
<h2>AI 进步推动业务发展</h2>
<p>公司的 AI 驱动广告工具实现了每年 600 亿美元的令人印象深刻的年化运行率。广告排名系统的改进提高了性能和效率，突显了 AI 在 Meta 商业战略中的关键作用。</p>
<h2>现实实验室的强劲表现</h2>
<p>现实实验室的收入激增至 4.7 亿美元，同比增长 74%。这一增长得益于 AI 眼镜和 Quest 头显的强劲销售，突显了 AI 在消费产品中的成功整合。</p>
<h2>视频参与显著增长</h2>
<p>Instagram 的视频参与度显著增加，自去年以来，视频观看时间增长超过 30%。特别是 Reels 的年化运行率超过 500 亿美元，展示了该平台日益增长的吸引力。</p>
<h2>Meta AI 和商业 AI 扩展</h2>
<p>Meta AI 目前拥有超过 10 亿的月活跃用户，而商业 AI 工具正在为企业促进数百万次对话，提高销售效率并降低成本。</p>
<h2>费用和法律成本增加</h2>
<p>公司在第三季度的总费用增长了 32%，达到 307 亿美元。这一增长主要由于与法律相关的费用、员工薪酬和基础设施成本，给盈利能力带来了挑战。</p>
<h2>高税率影响净收入</h2>
<p>由于一次性非现金减少递延税资产，第三季度的高税率达到 87%，对 Meta 的净收入产生了不利影响，引发了利益相关者的担忧。</p>
<h2>欧洲和美国的潜在挑战</h2>
<p>Meta 正面临来自欧盟和美国日益增加的监管压力，这可能会显著影响其业务和财务结果。与青少年相关的审判可能带来的潜在重大损失是可能影响未来表现的挑战之一。</p>
<h2>现实实验室收入预计下降</h2>
<p>展望未来，Meta 预计第四季度现实实验室的收入将下降，原因是缺乏新头显的发布以及去年 Quest 3S 的推出。</p>
<h2>前瞻性指导</h2>
<p>在财报电话会议上，Meta 提供了重要的指导，强调其强劲的财务表现和雄心勃勃的未来战略。公司计划继续在 AI 能力上进行大量投资，预计 2025 年的资本支出将在 700 亿到 720 亿美元之间。尽管高税率影响了第三季度，Meta 仍对 AI 驱动未来增长和盈利的潜力持乐观态度。</p>
<p>总之，Meta Platforms, Inc. 的财报电话会议描绘了一个由 AI 进步和产品成功驱动的强劲增长图景，尽管面临费用、税收和监管问题的挑战。公司前瞻性的战略和对 AI 发展的承诺暗示了一个光明的未来，使投资者和市场观察者保持关注。</p>

META

<p>Meta Platforms, Inc. 报告了强劲的第三季度财报，收入达到 512 亿美元，同比增长 26%，这得益于人工智能的进步和产品发布。尽管支出增长了 32%，以及 87% 的税率影响了净收入，但公司对未来的增长仍持乐观态度。Reality Labs 的收入激增 74% 至 4.7 亿美元，而 Instagram 上的视频互动显著增加。然而，欧盟和美国的监管挑战带来了风险，预计 Reality Labs 的收入在第四季度将出现下降。Meta 计划在 2025 年之前投资 700 亿至 720 亿美元于人工智能能力，显示出积极的前景</p>

<p>Meta Platforms, Inc. recently held its earnings call, revealing a mixed sentiment among investors and analysts. The company showcased strong revenue and engagement growth, largely driven by advancements in artificial intelligence (AI) and successful product launches, particularly in Reality Labs. However, concerns were raised over increased expenses, a high tax rate, and potential regulatory challenges. Despite these hurdles, Meta’s strategic focus on AI and new product opportunities suggests a positive outlook for the future.</p>
<div class="lb-trans"><p>Meta Platforms, Inc. 最近召开了财报电话会议，揭示了投资者和分析师之间的复杂情绪。公司展示了强劲的收入和用户参与增长，这主要得益于人工智能（AI）的进步和成功的产品发布，特别是在现实实验室方面。然而，关于费用增加、高税率和潜在监管挑战的担忧也被提出。尽管面临这些障碍，Meta 对 AI 和新产品机会的战略关注暗示了未来的积极前景。</p>
</div><h2>Record Revenue and Engagement Growth</h2>
<div class="lb-trans"><h2>创纪录的收入和参与增长</h2>
</div><p>Meta reported a total revenue of $51.2 billion for Q3, marking a 26% increase year-over-year. This growth was accompanied by significant engagement across its platforms, including Facebook, Instagram, and Threads, indicating a robust user base and active participation.</p>
<div class="lb-trans"><p>Meta 报告称第三季度总收入为 512 亿美元，同比增长 26%。这一增长伴随着其平台（包括 Facebook、Instagram 和 Threads）上显著的用户参与，表明用户基础强大且活跃参与。</p>
</div><h2>AI Advancements Driving Business</h2>
<div class="lb-trans"><h2>AI 进步推动业务发展</h2>
</div><p>The company’s AI-powered ad tools have achieved an impressive annual run rate of $60 billion. Improvements in ad ranking systems have led to enhanced performance and efficiency, underscoring AI’s critical role in Meta’s business strategy.</p>
<div class="lb-trans"><p>公司的 AI 驱动广告工具实现了每年 600 亿美元的令人印象深刻的年化运行率。广告排名系统的改进提高了性能和效率，突显了 AI 在 Meta 商业战略中的关键作用。</p>
</div><h2>Strong Performance in Reality Labs</h2>
<div class="lb-trans"><h2>现实实验室的强劲表现</h2>
</div><p>Reality Labs experienced a revenue surge to $470 million, up 74% year-over-year. This growth was fueled by strong sales of AI glasses and Quest headsets, highlighting the successful integration of AI in consumer products.</p>
<div class="lb-trans"><p>现实实验室的收入激增至 4.7 亿美元，同比增长 74%。这一增长得益于 AI 眼镜和 Quest 头显的强劲销售，突显了 AI 在消费产品中的成功整合。</p>
</div><h2>Significant Growth in Video Engagement</h2>
<div class="lb-trans"><h2>视频参与显著增长</h2>
</div><p>Instagram’s video engagement saw a remarkable increase, with time spent on videos rising by over 30% since last year. Reels, in particular, reached an annual run rate exceeding $50 billion, showcasing the platform’s growing appeal.</p>
<div class="lb-trans"><p>Instagram 的视频参与度显著增加，自去年以来，视频观看时间增长超过 30%。特别是 Reels 的年化运行率超过 500 亿美元，展示了该平台日益增长的吸引力。</p>
</div><h2>Meta AI and Business AI Expansion</h2>
<div class="lb-trans"><h2>Meta AI 和商业 AI 扩展</h2>
</div><p>Meta AI now boasts over 1 billion monthly active users, while business AI tools are facilitating millions of conversations for businesses, enhancing sales efficiency at a reduced cost.</p>
<div class="lb-trans"><p>Meta AI 目前拥有超过 10 亿的月活跃用户，而商业 AI 工具正在为企业促进数百万次对话，提高销售效率并降低成本。</p>
</div><h2>Increased Expenses and Legal Costs</h2>
<div class="lb-trans"><h2>费用和法律成本增加</h2>
</div><p>The company faced a 32% rise in total expenses for Q3, amounting to $30.7 billion. This increase was mainly due to legal-related expenses, employee compensation, and infrastructure costs, posing a challenge to profitability.</p>
<div class="lb-trans"><p>公司在第三季度的总费用增长了 32%，达到 307 亿美元。这一增长主要由于与法律相关的费用、员工薪酬和基础设施成本，给盈利能力带来了挑战。</p>
</div><h2>High Tax Rate Impacting Net Income</h2>
<div class="lb-trans"><h2>高税率影响净收入</h2>
</div><p>A high tax rate of 87% for the quarter, driven by a onetime noncash reduction in deferred tax assets, adversely affected Meta’s net income, raising concerns among stakeholders.</p>
<div class="lb-trans"><p>由于一次性非现金减少递延税资产，第三季度的高税率达到 87%，对 Meta 的净收入产生了不利影响，引发了利益相关者的担忧。</p>
</div><h2>Potential Challenges in Europe and US</h2>
<div class="lb-trans"><h2>欧洲和美国的潜在挑战</h2>
</div><p>Meta is facing increasing regulatory headwinds in the EU and US, which could significantly impact its business and financial results. Potential material losses from youth-related trials are among the challenges that could affect future performance.</p>
<div class="lb-trans"><p>Meta 正面临来自欧盟和美国日益增加的监管压力，这可能会显著影响其业务和财务结果。与青少年相关的审判可能带来的潜在重大损失是可能影响未来表现的挑战之一。</p>
</div><h2>Reality Labs Revenue Decline Expected</h2>
<div class="lb-trans"><h2>现实实验室收入预计下降</h2>
</div><p>Looking ahead, Meta anticipates a decline in Reality Labs revenue for Q4, attributed to the absence of new headset launches and the previous year’s Quest 3S introduction.</p>
<div class="lb-trans"><p>展望未来，Meta 预计第四季度现实实验室的收入将下降，原因是缺乏新头显的发布以及去年 Quest 3S 的推出。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>During the earnings call, Meta provided significant guidance, highlighting its robust financial performance and ambitious future strategies. The company plans to continue investing heavily in AI capabilities, with capital expenditures for 2025 expected between $70 billion to $72 billion. Despite a high tax rate impacting Q3, Meta remains optimistic about AI’s potential to drive future growth and profitability.</p>
<div class="lb-trans"><p>在财报电话会议上，Meta 提供了重要的指导，强调其强劲的财务表现和雄心勃勃的未来战略。公司计划继续在 AI 能力上进行大量投资，预计 2025 年的资本支出将在 700 亿到 720 亿美元之间。尽管高税率影响了第三季度，Meta 仍对 AI 驱动未来增长和盈利的潜力持乐观态度。</p>
</div><p>In conclusion, Meta Platforms, Inc.’s earnings call painted a picture of strong growth driven by AI advancements and product successes, despite challenges related to expenses, taxes, and regulatory issues. The company’s forward-looking strategies and commitment to AI development suggest a promising future, keeping investors and market watchers engaged.</p>
<div class="lb-trans"><p>总之，Meta Platforms, Inc. 的财报电话会议描绘了一个由 AI 进步和产品成功驱动的强劲增长图景，尽管面临费用、税收和监管问题的挑战。公司前瞻性的战略和对 AI 发展的承诺暗示了一个光明的未来，使投资者和市场观察者保持关注。</p>
</div>

Meta’s Earnings Call: AI Drives Strong Growth Amid Challenges

- Meta Platforms, Inc. Q3 收入达 512 亿美元，同比增长 26%。  
- AI 驱动的广告工具年收入达 600 亿美元，Reality Labs 收入增至 4.7 亿美元。  
- 面临 32% 的费用增长和 87% 的高税率，未来可能受监管挑战影响。  

Meta 的财报电话会议：人工智能推动强劲增长，但也面临挑战