"As we are building out our discovery engine ... I want to be clear that we are still a social company," Zuckerberg said. He added that currently around 15% of content on users' Facebook feeds (and slightly more on Instagram) is recommended by artificial intelligence from accounts they don't follow. It expects those number to more than double by the end of next year.

Meta chief operating officer Sheryl Sandberg attempted to reassure investors during Wednesday's call — which will be her last, after she announced she would step down last month — by saying, "Meta is a company that has shown extraordinary resilience."

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"We've made big transitions, like the shift from desktop to mobile or Feed to Stories," she said. "The investments we're making in Reels, in our discovery engine, business messaging, controlling our ad system and especially in helping to build the metaverse represent enormous opportunities for our business."

Meta announced another change to its C-Suite on Wednesday. Wehner will become Meta's first chief strategy officer on November 1, responsible for "the company's strategy and corporate development." Meta's current VP of finance Susan Li will take over the CFO job.

"As we are building out our discovery engine ... I want to be clear that we are still a social company," Zuckerberg said. He added that currently around 15% of content on users' Facebook feeds (and slightly more on Instagram) is recommended by artificial intelligence from accounts they don't follow. It expects those number to more than double by the end of next year.

Meta chief operating officer Sheryl Sandberg attempted to reassure investors during Wednesday's call — which will be her last, after she announced she would step down last month — by saying, "Meta is a company that has shown extraordinary resilience."

*

"We've made big transitions, like the shift from desktop to mobile or Feed to Stories," she said. "The investments we're making in Reels, in our discovery engine, business messaging, controlling our ad system and especially in helping to build the metaverse represent enormous opportunities for our business."

Meta announced another change to its C-Suite on Wednesday. Wehner will become Meta's first chief strategy officer on November 1, responsible for "the company's strategy and corporate development." Meta's current VP of finance Susan Li will take over the CFO job.