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The Guardian - US
The Guardian - US
Technology
Nick Robins-Early

Strong earnings report pushes Meta shares up amid heavy AI spending

Meta Mark Zuckerberg Facebook Instagram WhatsApp
Outdoor picture of blue and black Meta logo on white background.
Meta, which owns Facebook, Instagram and WhatsApp, reported $39.07bn in revenue and $5.16 earnings per share. Photograph: Yves Herman/Reuters

Meta’s shares rose in after-hours trading on Wednesday off the back of a strong earnings report that comes as the company is spending heavily on AI tools.

The company’s stock price grew around 5% following the report, which revealed the company outperformed analysts’ expectations for its second quarter.

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