News Formal

Meta jumps on solid earnings beat, but warns of 'significant' cap-ex expansion

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 40 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 63%

Earnings Per Share News

Susan Li,Meta

Meta shares climbed higher in trading Thursday, after the company reported better than expected second quarter earnings Wednesday.

"While we do not intend to provide any quantitative guidance for 2025 until the fourth quarter call, we expect infrastructure costs will be a significant driver of expense growth next year as we recognize depreciation and operating costs associated with our expanded infrastructure footprint," CFO Susan Li said in a statement.

Last week, CEO Mark Zuckerberg announced Meta’s latest open-source large language model called Llama 3.1. What’s more, the Facebook founder said the industry should focus on open-source AI rather than closed-source models like OpenAI’s ChatGPT. In Q2, Meta reported that the segment lost some $4.49 billion, slightly below expectations of $4.53 billion. It lost $3.8 billion in Q1. The division has also been plagued by turnover and a lack of clear vision, adding to Reality Labs’ troubles,

Bioinformatics Strategic Research Report 2024: Market to Surpass $45 Billion by 2030 - Expansion of Personalized Medicine and Pharmacogenomics Strengthens Market Opportunities Fla. Man Arrested After 4 People, 3 Dogs Found Dead in Alleged Arson Attack on Mobile Home: ‘Utterly Senseless’

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news today: S&P 500, Nasdaq climb as Fed delivers and Meta jumpsStrong Meta results are keeping bullish tech hopes aloft after the Fed cemented bets on a September rate cut.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: S&P 500, Nasdaq futures climb as Fed delivers and Meta jumpsStrong Meta results are keeping bullish tech hopes aloft after the Fed cemented bets on a September rate cut.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Market movers: Stocks seeing action on ThursdayA survey of North American equities heading in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

Fed holds rates, Meta earnings, Qualcomm: 3 ThingsComing out of their two-day policy meeting on Wednesday, Federal Reserve officials have decided to hold interest rates where they are, with Chair Jerome...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »