Meta Platforms Reports Strong Q2 Growth
Meta Platforms (NASDAQ: META) saw its stock surge over 11% on July 31, following a robust second quarter where it reported $47.5 billion in total revenue, with advertising accounting for $46.6 billion. The company’s ad revenue grew 22% year-over-year, significantly exceeding its initial forecast of 13%.
Looking ahead, Meta expects to generate between $47.5 billion and $50 billion in revenue for Q3, indicating potential growth of 20% at the midpoint. Despite its stock trading at 28 times earnings, analysts may revise their outlook following the impressive Q2 results, which included a 38% growth in diluted earnings per share.
