News Formal

Meta earnings rise on digital ads, AI push as revenue jumps 11%

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Facebook parent Meta is raking in digital ads, as its earnings attest, and Wall Street is rewarding it. The company’s stock initially jumped 7% in after-hours trading Wednesday before cooling. $META reported fiscal Q2 net income of $7.79 billion.

Facebook parent Meta Platforms Inc. is raking in digital ads, as its earnings attest, and Wall Street is rewarding it. The company’s stock initially jumped 7% in after-hours trading Wednesday before cooling.

A rebound in advertising, the monetization of Reels and AI-fueled ad targeting and measurement contributed to the quarter’s performance. Meta executives forecast third-quarter revenue of $32 billion to $34.5 billion, while analysts on average were expecting $31.2 billion, according to FactSet.

 

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

 /  🏆 3. in CA

Canada Canada Latest News, Canada Canada Headlines

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

Wall Street foes turn free-market heroes amid GOP attacksRepublican lawmakers warn that the ESG push by firms and financial regulators is hurting investor returns and the fossil fuel industry.
Source: politico - 🏆 381. / 59 Read more »