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Facebook (META) Q2 2024 earnings results beat EPS and revenue expectations

Facebook posted a massive beat on all fronts for its latest financial quarter.

Donovan Erskine

July 31, 2024 1:43 PM

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Facebook (META) is out with its Q2 2024 earnings report, showing a major beat on revenue, earnings-per-share, and the earnings whisper. Facebook stock was soaring in after-hours trading as a result.

Facebook published its Q2 2024 earnings report shortly after the markets closed today. The company made $39.07 billion in revenue against a $38.3 billion expectation. As for EPS, Facebook tallied $5.16, beating the $4.73 expectation.

"We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year," said Mark Zuckerberg, Meta founder and CEO. "We've released the first frontier-level open source AI model, we continue to see good traction with our Ray-Ban Meta AI glasses, and we're driving good growth across our apps."

Shares in Facebook reached as high as $498.50 in after-hours trading after ending the day at $474.83. For more financial news out of the technology industry this week, stick with Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_