Meta Platforms Inc Class A (META)
Meta shares tumble 10% as Mark Zuckerberg's AI spending spree stuns Wall Street
Meta currently has 32 data centers across the globe in operation or under construction, with 28 of them in the US.
Zuckerberg says Meta's enterprise AI opportunity extends beyond agents
In June, Meta entered the enterprise AI market with a new AI agent aimed at businesses, to help with customer service, support, and other daily operations. But the tech giant's enterprise AI ambitions are much more expansive, Meta CEO Mark Zuckerberg told investors on Wednesday's second-quarter earnings call.
Meta Platforms (META) Lags Q2 Earnings Estimates
Meta Platforms (META) came out with quarterly earnings of $6.18 per share, missing the Zacks Consensus Estimate of $7.1 per share. This compares to earnings of $7.14 per share a year ago.
Meta's Q2: This Selloff Is A Gift
Meta Platforms, Inc. delivered strong operational metrics and revenue growth, despite an 8% post-earnings stock decline and mixed headline results. Q2 saw significant margin compression from higher R&D, legal, and severance costs; however, core business health and user growth remain robust. META's guidance for Q3 revenue is slightly below consensus, and elevated CapEx continues to pressure free cash flow, but monetization opportunities persist.
The Key Takeaways From Meta's Earnings and Lackluster Forecast
Ygal Arounian, Wedbush managing director, Internet equity research, reacts to Meta Platforms Inc.'s second-quarter earnings and disappointing earnings forecast on "Bloomberg The Close." -------- More on Bloomberg Television and Markets Like this video?
Meta Stock Tanks In Jittery Market On Massive AI Investment, Mixed Q2
Meta shares plunged more than 8% in the after market as it said it plans to invest between $130 billion and $145 billion on AI this year. The parent of Facebook, Instagram and WhatsApp also missed Wall Street's Q2 earnings per share forecast and anticipated softer than expected revenue in the current third quarter.
Meta profit misses estimates on higher costs
Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) missed second-quarter profit estimates on Wednesday, weighed down by a jump in costs including legal charges, even as revenue grew faster than expected. The social media giant reported earnings per share of $6.18, down 13% year-over-year and well below the $7.22 analysts had expected.
Meta stock sinks as Q2 earnings disappoint on multiple fronts
Meta Platforms (META) shares are slipping in extended hours on Wednesday as investors react to a messy Q2 earnings release that reignited aggressive spending fears. The giant's revenue reached $60.80 billion – up a better-than-expected 28% year-on-year – but its per-share profit at $6.18 failed to meet consensus estimates.
Meta's Profit Falls 14 Percent as A.I. Spending Continues
The Silicon Valley company's costs rose more steeply than revenue growth, as it continues to invest heavily in artificial intelligence.
Meta's Reality Labs lost over $4.6 billion in second quarter
Reality Labs continues to bleed cash, though its loss in the second quarter was narrower than expected. The unit builds virtual reality and wearable devices powered by AI.
Meta's Mark Zuckerberg blasts AI ‘centralization,' opposes US ban on Chinese models
Meta CEO Mark Zuckerberg blasted the “centralization” of AI in the hands of a few powerful companies and even opposed potential bans on Chinese AI models as he hailed open access to the new tech as a way to unlock prosperity.
Venture Capitalist Warns Meta Will Keep Spending Big on AI Even If Shareholders Hate It
Sarah Kunst, Managing Director at Cleo Capital, argued in a CNBC interview on July 29 that Meta's enormous AI infrastructure spending reflects Mark Zuckerberg's personal conviction and is likely to continue despite investor pushback.
