Meta Stock Surges on Strong Earnings Beat
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BTCCSquare news:
Meta Platforms Inc. (META) shares jumped 9% in after-hours trading after delivering second-quarter results that crushed analyst estimates. The social media giant's revenue climbed 22% year-over-year to $47.52 billion, while net income ROSE to $18.34 billion from $13.47 billion a year earlier.
Advertising revenue, Meta's Core business, grew 21% to $46.56 billion, demonstrating continued dominance in digital marketing. CEO Mark Zuckerberg hinted at breakthroughs in AI development, stating "Developing superintelligence is now in sight" as the company raises its capital expenditure forecast to $66-$72 billion.
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