Published , by Donovan Erskine
Published , by Donovan Erskine
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.