Meta Platforms reported a stellar second quarter with revenue climbing 22% to $47.5 billion, exceeding estimates. User growth was up 6%, ad impressions 11%, and ad prices increased by 9%. CEO Mark Zuckerberg attributed the growth to AI investments that enhanced ad conversions by 5% on Instagram and 3% on Facebook. Operating margins expanded to 43%, with earnings per share rising to $7.14. Forecasts for Q3 indicate continued growth with revenue estimates between $47.5 billion and $50.5 billion, reflecting the company's strong performance against competitors like Alphabet and Amazon.
Meta’s revenue grew by 22% to $47.5 billion for Q2, significantly surpassing estimated revenue of $44.8 billion, showcasing the strength of its advertising business.
Artificial Intelligence investments have driven improvements in Meta's ad performance, resulting in 5% more ad conversions on Instagram and 3% more on Facebook.
The company's operating margin increased from 38% to 43%, with earnings per share rising from $5.16 to $7.14, exceeding expectations.
Meta is forecasting third-quarter revenue between $47.5 billion and $50.5 billion, indicating continued robust growth that surpasses analyst consensus.
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