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Core News Facts
Meta Platforms (NASDAQ: META) is approaching a market capitalization of $2 trillion, currently at $1.8 trillion as of July 14, 2023, following a 32% increase in stock value over the past three months. The tech giant is expected to announce its second-quarter earnings report on July 31, which is anticipated to further fuel its growth.
Meta’s success is attributed to its integration of AI tools into advertising, resulting in a 10% increase in average ad prices year-over-year and a 37% rise in earnings per share to $6.43 in Q1 2023. The company foresees a 13% year-over-year growth in earnings to $5.84 per share for Q2, driven by increased user engagement and advertiser returns.
Looking ahead, Meta’s spending on capital expenditures is expected to soar from $39 billion in 2024 to $68 billion by 2025, indicating a strong commitment to enhancing its AI infrastructure, which is projected to allow advertisers automated ad creation by the end of 2024.
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