Meta shares pop on revenue and earnings beat, better-than-expected forecast

Category: Business

Meta Platforms Inc. reported a strong second quarter with a 22% revenue growth, beating Wall Street estimates. The company anticipates third-quarter revenue between $38.5 billion and $41 billion. Net income surged 73% to $13.47 billion. Meta continues to gain market share in digital advertising, with a significant focus on AI and metaverse technologies. The company has also implemented cost-cutting measures, resulting in a reduced workforce and increased operating income.

Keywords: Meta Platforms, Mark Zuckerberg, financial results

Source: CNBC

Update At: 8/1/2024

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