PYMNTS.com July 31, 2024
A funny thing happened on the way to Meta’s Q2 earnings call. As it has for many tech companies during this earnings season, discussion of actual financial results took a back seat to discussions about spending on artificial intelligence (AI). With this in mind, Meta and Zuckerberg did not disappoint.
Yes, there were financial results to be had. And they were stellar. Despite concern that digital and social media advertising might have fallen on hard times during the quarter, Meta reported earnings per share (EPS) of $5.16 on revenue of $39.07 billion. Meta recorded EPS of $2.98 on revenue of $31.9 billion during the same period last year.
The company’s Family of Apps revenue, which includes revenue from Facebook, Instagram,...
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