Meta CEO Mark Zuckerberg noted his high hopes for Threads during the Q2 2023 earnings call, where the company reported $7.78 billion in profit, despite a $3.7 billion loss in its Reality Labs division.
Meta CEO Mark Zuckerberg has high hopes for Threads, his competitor to the company formerly known as Twitter. During Meta’s second quarter earnings call with investors on Wednesday, Zuckerberg was asked multiple times about Threads and his expectations for its long-term success.
“Part of me wonders if this is just a classic venture capital portfolio question, where you try a bunch of things and a bunch of them don’t work, and once in a while, one hits... it could be that this is such an idiocratic case because of all the factors happening around Twitter, or X as it’s called now.” Meta’s business has rebounded significantly this year, and for the second quarter, it reported better-than-expected earnings that sent its stock price higher.
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