Meta Platforms, Inc. (META) reported second-quarter revenues of $60.80 billion, a 28% increase year-over-year, surpassing the Zacks Consensus Estimate of $60.21 billion. Earnings per share (EPS) were noted at $6.18, which fell short of the expected $7.10, marking a 13.00% EPS surprise. The earnings call highlighted Artificial Intelligence as a key growth driver, with significant improvements in user experience and advertising performance across platforms like Instagram and Facebook.
In terms of infrastructure, Meta announced capital expenditures of $31.08 billion during the quarter, reflecting ongoing investments in servers and data centers. The company projects future capital expenditures in 2026 to range between $130 billion and $145 billion. Total expenses for the quarter rose to $42.03 billion, showing a 55% increase year-over-year, primarily due to higher employee compensation and infrastructure costs.
Additionally, Meta noted that over 1 million businesses utilize its business agents weekly across WhatsApp and Messenger, and Family of Apps revenues reached $1 billion for the first time, primarily driven by WhatsApp paid messaging and subscriptions. The company expects third-quarter revenues of $61 billion to $64 billion and has raised its full-year expense outlook to $165 billion to $169 billion, largely due to anticipated legal charges.
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