According to Futu News on July 27,$Meta Platforms (META.US)$Second quarter results were announced after the market on July 26, EST. Financial reports showed that Meta's second-quarter revenue was 32 billion US dollars, up 11% year on year, and net profit was 77.88 million US dollars, up 16% from the same period last year. Diluted earnings per share were 2.98 US dollars, up 21% from the same period last year, a new high since the fourth quarter of 2021.
As of press release, Meta's stock price rose 7.09% to 319.75 US dollars after the day, with an after-hours turnover of 1,876 million US dollars.
Following the release of financial reports by another tech giant, Google, Meta soon followed by the release of the second quarter report which far exceeded expectations in all areas.
Revenue for the second quarter was 32 billion US dollars, the biggest year-on-year increase in a year and a half. After dilution, earnings of 2.98 US dollars per share exceeded expectations and increased 21%, reaching a new high in the past year;
Advertising revenue for the second quarter was US$31.5 billion, up 11.9% year on year. The growth rate was three times that of the first quarter, and metaverse revenue fell 39% beyond expectations;
Facebook's daily activity in the second quarter was 2,064 million, continuing to hit a record high in a single quarter. Monthly activity surpassed 3 billion for the first time in history, an increase of 3.4% over the previous year.
In terms of performance guidelines for the third quarter, Meta expects revenue of 32 billion to 34.5 billion US dollars, higher than analysts' expectations of 31.18 billion US dollars. At the same time, this year's cost guidelines were raised to 88 billion to 91 billion US dollars, and this year's capital expenditure guidelines were lowered by 3 billion US dollars to save costs for non-AI servers, saying that continuing investment in AI and the metaverse business will lead to an increase in expenses next year, and losses in the metaverse business will increase dramatically next year.
Mark Zuckerberg, founder and CEO of Meta, said, “We've had a great quarter, we continue to see strong engagement with our app, and we have the most exciting roadmap I've seen in a while, including Llama 2, Threads, Reels, new AI products under development, and the launch of Quest's No. 3 this fall.”