Daily active people (DAP) reached 3.27 billion, a 7% increase from the same period last year.
Capital expenditures (capex) were $8.47 billion in Q2, up from $6.72 billion in Q1. Despite a 7% rise in costs during the second quarter, the substantial revenue increase led to a 9-point rise in operating margin, climbing to 38% from 29.
Meta projected total revenue for Q3 between $38.5 billion and $41 billion, surpassing Wall Street's estimate of $39.09 billion. Forecasted significant spending on AI infrastructure.
Analysts raised Meta's target price post-report, citing engagement, monetization gains, and expanding margins. Citi analysts increased META target price from $550 to $580.
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