Meta Revenue Grows 11% In Q2 As Company Touts Investments In Threads And AI
deadline.comMeta’s revenue beat estimates in the second quarter, rising by 11% to $32 billion, as the company also touted investments in its Twitter rival, Threads, as well as in new AI products.
Net income rose 16% to $7.79 billion, while the company reported $2.98 per share in earnings, from $2.46 in the same period a year earlier.
Estimates of earnings per share had been $2.91. Facebook daily active users were 2.06 billion in June, an increase of 5% year over year.
The company also gave a positive outlook for the third quarter, with revenue in the range of $32 billion to $34.5 billion. Meta said that total costs and expenses grew 10% to $22.6 billion, with legal expenses of $1.87 billion recorded during the quarter and $780 million in restructuring charges.
Read more on deadline.com