In Q2, Meta Platforms achieved remarkable earnings with revenue increasing by 22% to $47.52 billion and earnings per share rising by 38% to $7.14, exceeding analyst estimates. The company attributes its growth largely to enhancements in artificial intelligence, which improved content recommendations and ad targeting. Advertising revenue also surged by 22%, influenced by increased ad impressions and pricing. Despite losses in Reality Labs, the core social media operations delivered strong income performance. New ad initiatives on Threads and WhatsApp are underway but are not expected to significantly contribute this year.
Meta's Q2 revenue soared 22% year over year to $47.52 billion, while earnings per share (EPS) jumped 38% to $7.14, surpassing analyst expectations significantly.
The company is leveraging AI to enhance content recommendations and improve ad targeting through a generative ads recommendation system, resulting in a stronger ad business.
Advertising revenue climbed 22% to $46.6 billion, with a notable increase in ad impressions and average price per ad driven by improved targeting and engagement.
Reality Labs, housing Meta's metaverse initiatives, recorded a revenue increase of 5% and a significant operating income from the social media side of $25 billion.
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