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Per the article, META's heavy investments in AI tools have allowed the company "to improve ad-targeting systems to make better predictions based on less data" - a key win in "the company's plan to overcome privacy change."
Facebook and Instagram's parent's executives reportedly told employees as far back as October 2022 that the company is "expected to begin rebounding from Apple’s change as soon as that quarter."
“Year on year, they are a tailwind to our business because of improvements we’ve made on artificial intelligence” - META's Chief Marketing Officer and Vice President of Analytics Alex Schultz reportedly said in an internal meeting, adding that the privacy change "will no longer be a drag on earnings going forward."
With majority of users choosing not to be tracked, the change became a critical issue for ad publishers - in February 2022, Meta said it will cost the company over $10B in sales in fiscal 2022.
Meta Platforms has its Q4 earnings release scheduled for Wednesday, February 1, 2023, after the market closes.
Shares of META are trading nearly 2.5% higher following the report. The stock is up over 20% YTD so far.
By Vlad Schepkov
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