Key Points
Meta Platforms (NASDAQ: META) reported second-quarter results that exceeded expectations, with revenue of $47.52 billion, up 22% year over year, and earnings per share (EPS) of $7.14, a 38% increase. Analysts had estimated revenue at $44.8 billion and EPS at $5.92.
The company saw advertising revenue climb 22% to $46.6 billion, alongside a user increase to 3.48 billion daily active users, surpassing expectations of 3.45 billion. For the third quarter, Meta forecasts revenue between $47.5 billion and $50.5 billion, reflecting growth of 17% to 24% year over year. The company’s capital expenditures for 2023 are projected at $66 billion to $72 billion.
