The Latest

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours

Facebook and Instagram parent company Meta Platforms Inc. reported stronger-than-expected results for the second quarter on Wednesday, sending shares sharply higher in after-hours trading Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hoursThe Associated PressSAN FRANCISCO SAN FRANCISCO (AP) — Facebook and Instagram parent company Meta Platforms Inc. reported stronger-than-expected results for
byOlivia Adams
1 August 2024
1 minute read
Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours
Total
0
Shares
0
0
0

Facebook and Instagram parent company Meta Platforms Inc. reported stronger-than-expected results for the second quarter on Wednesday, sending shares sharply higher in after-hours trading

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hoursThe Associated PressSAN FRANCISCO

SAN FRANCISCO (AP) — Facebook and Instagram parent company Meta Platforms Inc. reported stronger-than-expected results for the second quarter on Wednesday, sending shares sharply higher in after-hours trading.

The Menlo Park, California-based company earned $13.47 billion, or $5.16 per share, in the April-June period. That’s up 73% from $7.8 billion, or $2.98 per share, in the same period a year earlier.

Revenue rose 22% to $39.07 billion from $32 billion.

Analysts, on average, were expecting earnings of $4.72 per share on revenue of $38.26 billion, according to a poll by FactSet.

“We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year,” said CEO Mark Zuckerberg in a statement.

The number of daily active users for Meta’s family of apps — Facebook, Instagram, WhatsApp and Messenger — was 3.27 billion for June, an increase of 7% from a year earlier. The company no longer breaks out user figures for Facebook as it had in the past.

Meta’s stock rose $23.67, or 5%, to 498.50 in after-hours trading.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Author
Olivia Adams
Hi, I'm Olivia Adams, a political correspondent committed to providing in-depth analysis and reporting on the political landscape. With a background in political science and years of experience covering elections, government policies, and political movements, I strive to give my readers a clear and comprehensive understanding of the issues that matter.
Leave a Reply
Related Posts
EXCLUSIVEJoe Biden’s ‘defiant’ body language during Oval Office address shows he still does not accept he should step down and is ‘furious and in a state of disbelief’, expert reveals
Read More

EXCLUSIVEJoe Biden’s ‘defiant’ body language during Oval Office address shows he still does not accept he should step down and is ‘furious and in a state of disbelief’, expert reveals

Joe Biden's historic address to America from the Oval Office - and his defiant body language - implies he still does not accept he should be stepping down. Body language expert Judi James said the President's regular finger jabbing during his speech last night was an attempt to show 'defiance' to the tens of millions watching
byLaura Mitchellx
Venezuela’s opposition secured over 80% of crucial vote tally sheets. Here’s how they did it.
Read More

Venezuela’s opposition secured over 80% of crucial vote tally sheets. Here’s how they did it.

Twenty-four hours after polls closed in Venezuela’s presidential election, the leader of the opposition announced that her coalition had gathered more than two-thirds of vote tally sheets from polling centers nationwide Venezuela’s opposition secured over 80% of crucial vote tally sheets. Here’s how they did it.By REGINA GARCIA CANOAssociated PressThe Associated PressCARACAS, Venezuela CARACAS, Venezuela
byRachel Greene
America’s WORST airports for flight delays revealed – and it is bad news if you are flying into Florida
Read More

America’s WORST airports for flight delays revealed – and it is bad news if you are flying into Florida

A new study has revealed America's worst airports for flight delays - and you're out of luck if you're flying into Florida. This summer has been plagued with flight delays and cancellations following a faulty update by the software company CrowdStrike that caused massive Microsoft outages worldwide. Major airlines faced significant flight disruptions on Wednesday
byRachel Greene
Heartbreak for Harry and William as their uncle Lord Robert Fellowes dies aged 82: Late Queen’s trusted private secretary helped guide monarch through turbulent times and death of his sister-in-law Diana
Read More

Heartbreak for Harry and William as their uncle Lord Robert Fellowes dies aged 82: Late Queen’s trusted private secretary helped guide monarch through turbulent times and death of his sister-in-law Diana

Queen Elizabeth II's private secretary Lord Robert Fellowes, who was Princess Diana's brother-in-law and the uncle of Princes Harry and William, has died aged 82.  The British courtier was the late monarch's most important adviser between 1990 and 1999 during the divorces of three of her children and Diana's death.  Lord Fellowes was also forced
bySarah Blake