Meta Stock Surges! AI Report Sparks Big Gains

Meta Platforms (META) delivered impressive second-quarter earnings, exceeding analyst expectations and driving its stock up in after-hours trading. The company reported revenue of $39.07 billion for the quarter ending in June, marking a 22% increase year-over-year and surpassing the forecast of $38.26 billion. Earnings per share reached $5.16, up 73% from the previous year and higher than the anticipated $4.72. Looking ahead, Meta projects third-quarter revenue between $38.5 billion and $41 billion, beating the analyst estimate of $39.1 billion. The company also increased its capital expenditure forecast for the year to $37 billion to $40 billion. Analysts praise Meta’s leadership in AI and its use of AI to enhance advertising tools. CEO Mark Zuckerberg highlighted AI's role in Meta's future, including advancements in the metaverse and AI-powered Ray-Ban smart glasses. Despite recent stock declines, Meta’s strong earnings outlook offers a positive sign for investors.

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