Meta shares pop on revenue and earnings beat, better-than-expected forecast
Publishing timestamp: 2024-07-31 16:00:01
Summary
Meta shares jumped after beating Wall Street estimates for revenue and profit and issuing a better-than-expected forecast for the current period. The company is heavily investing in artificial intelligence and virtual reality, which are areas of focus for investors. Meta's financial results point to continued share gains in the digital ad market, with strong revenue growth and net income. The company is also focusing on cost-cutting initiatives and investing in cutting-edge technologies like AI and VR. CEO Mark Zuckerberg highlighted the strong quarter and the company's progress in AI development. Meta's stock rose in after-hours trading following the positive results.
Sentiment: POSITIVE
Keywords: meta platforms inc, social media, earnings, business news, technology, breaking news: technology, mark zuckerberg, internet, pinterest inc, mobile, sundar pichai, alphabet inc,
Source: https://www.cnbc.com/2024/07/31/meta-earnings-q2-2024.html