Meta, the manager of the world's most popular social network Facebook, presented its performance results for the last quarter, which were improved and exceeded expectations. After the trading session, its shares rose in price: Meta 502.51 (5.83%) .
During the second quarter of this year, this company's revenue reached 39.071 billion. dollars, or twenty-two percent more than a year ago during the same period. The market expected them to amount to an average of 38.31 billion. dollars.
Facebook's daily family of active users rose seven percent to 3.27 billion compared to the same period a year ago.
Meta's operating profit jumped 58 percent to 14.847 billion during the mentioned period. dollars, and the net profit – even more, that is, by 73 percent to 13.465 billion. dollars or up to 5.16 dollars per share. Analysts were expecting quarterly earnings of $4.73 per share on average.
In total, after the first half of this year, this company's income reaches 75.527 billion. dollars, or almost a quarter more than a year ago during the same period. Operating profit jumped 72.5 percent to 28.665 billion. dollars, and the net almost doubled to 25.834 billion. dollars.
Meta's management expects revenues to reach 38.5 – 41 billion this quarter. dollars, or an average of 39.75 billion dollars, when the average of analysts' forecasts was 39.1 billion. dollars.
"We had a strong quarter, and Meta DI is on track to become the world's most used AI assistant by the end of the year," Mark Zuckerberg said in a statement.
Meta's share price has already jumped 37 percent this year, and 49 percent in the past one year. For comparison, the Nasdaq index increased by 19.2 and 22.7 percent, respectively.
