Meta Surpasses Q2 Expectations with Strong AI-Driven Growth

Meta Platforms Inc. delivered a robust second-quarter performance, exceeding analyst estimates on both revenue and earnings. The social media giant posted EPS of $7.14 against expectations of $5.89, with revenue hitting $47.5 billion versus the projected $44.83 billion. Advertising revenue notably outperformed at $46.5 billion.

The company's bullish Q3 guidance of $47.5-$50.5 billion sent shares soaring 8% in after-hours trading. Meta's Reality Labs division reported a narrower-than-expected loss of $4.5 billion, signaling disciplined spending in its metaverse ambitions.

Meta's AI hiring spree continues to accelerate, with high-profile acquisitions including former OpenAI researcher Shengjia Zhao to lead its Superintelligence Lab. The tech firm has committed $14.3 billion to Scale AI while poaching top talent from Apple, GitHub, and other industry leaders.