Meta Platforms on Wednesday reported better than expected quarterly results, delivering revenue at the high end of guidance thanks to a roughly 22% increase in advertising dollars. While there are still concerns about the company's aggressive AI spending, we believe these investments will pay off in the long run. Revenue in the three months ended June 30 rose 22% year over year to $39.07 billion, beating the $38.3 billion expected by analysts, according to estimates compiled by LSEG.
This photo taken on February 27, 2024 shows Mark Zuckerberg, head of US tech giant Meta, speaking to reporters at the Japanese prime minister's office during his visit to Tokyo.on Wednesday reported better than expected quarterly results, delivering revenue at the high end of guidance thanks to a roughly 22% increase in advertising dollars. While there are still concerns about the company's aggressive AI spending, we believe these investments will pay off in the long run.