Meta Platforms: Q2 Earnings Snapshot

MENLO PARK, Calif. (AP) — MENLO PARK, Calif. (AP) — Meta Platforms, Inc. (META) on Wednesday reported second-quarter profit of $7.79 billion.

On a per-share basis, the Menlo Park, California-based company said it had net income of $2.98. Earnings, adjusted for restructuring costs, came to $3.23 per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.87 per share.

The social media company posted revenue of $32 billion in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $30.91 billion.

For the current quarter ending in September, Meta Platforms said it expects revenue in the range of $32 billion to $34.5 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on META at https://www.zacks.com/ap/META

Source