Reported 3 months ago
Meta Platforms Inc. reported impressive second-quarter sales of $39.1 billion, surpassing analysts' estimates of $38.34 billion, thanks to the company's effective use of artificial intelligence in targeted advertising. Following the announcement, Meta's shares rose approximately 5%. The company continues to invest heavily in its AI capabilities, with anticipated sales for the upcoming quarter projected between $38.5 billion and $41 billion. CEO Mark Zuckerberg emphasized a focus on long-term growth in AI technology, while also implementing measures like job cuts and stock buybacks to support its stock performance.
Source: YAHOO