Meta's Q2 Revenue Reaches Record High, Stock Falls 6.8% After Earnings Due to AI Spending

iconKuCoinFlash
Share
This is the logo of the coin.
META
----
AI summary iconSummary
Meta Platforms (META.O) reported record Q2 revenue of $60.8 billion, a 28% year-over-year increase, but its stock fell over 6.8% after hours as rising AI infrastructure costs sparked concerns. The company raised its annual capex guidance to at least $1.3 trillion. Net profit came in at $15.8 billion, below estimates, with free cash flow at $784 million. On-chain data shows mixed sentiment among altcoins to watch as traders reassess risk.

Odaily Planet Daily reports: Meta Platforms (META.O) announced its second-quarter financial results, recording record revenue, but increased investment in AI infrastructure has raised market concerns about cost pressures.

Meta's second-quarter revenue was $60.8 billion, a 28% year-over-year increase; net profit was $15.8 billion, below analyst expectations. The company also slightly raised the lower end of its annual capital expenditure guidance from $125 billion to $130 billion, while keeping the upper limit unchanged at $145 billion.

As a result, Meta's stock price fell more than 6.8% in after-hours trading. To accelerate its AI competition, Meta has invested tens of billions of dollars in chip procurement, data center construction, and recruiting top talent, and recently partnered with BlackRock to raise at least $12 billion to build a data center in Texas. Meta's free cash flow for the second quarter was $784 million.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.