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Benzinga

Meta posts $60.80 billion Q2 revenue but misses EPS estimate; shares fall as CapEx guidance floor rises

AI Market Summary
Meta's Q2 revenue beat expectations, supported by higher ad impressions and pricing, but adjusted EPS missed materially and free cash flow was weak relative to operating cash flow. Management raised the low end of future expense and capex guidance, reinforcing concerns about AI infrastructure spend. After-hours shares fell, suggesting near-term pressure on large-cap tech sentiment despite resilient advertising trends.
Impact level
● Medium
Affected assets
NCSKMETA2USD/USDT-7.66%
AI Insight · NCSKMETA2USD/USDTAI Insight
▼ Bearish
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Meta reported 2024 second-quarter revenue of $60.80 billion, up 28% year over year and above expectations, while adjusted earnings came in at $6.18 per share, below the $7.13 consensus estimate. Family daily active people rose 3%, as ad impressions increased 14% and the average price per ad climbed 12%. The company ended the quarter with $90.26 billion in cash and equivalents, while free cash flow was $784 million. Shares declined after the results were released.
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