US Stock Market News | Second-quarter report and next-quarter guidance exceed expectations, Meta Platforms surges nearly 10%
Meta Platforms stock price rose nearly 10% to $522.23. The company's second-quarter financial report and third-quarter guidance exceeded expectations, with a 22% year-on-year revenue growth and a 73% year-on-year increase in earnings per share. It is expected that the full-year capital expenditure in 2024 will be between $37 billion and $40 billion
According to Zhitong Finance, on Thursday, Meta Platforms (META.US) saw its stock price rise, with the stock up nearly 10% to $522.23 at the time of publication. The company's second-quarter financial report and third-quarter guidance exceeded expectations. In the second quarter, Meta's revenue was $39.071 billion, a year-on-year increase of 22%, marking the fourth consecutive quarter of revenue growth exceeding 20% year-on-year; earnings per share were $5.16, a significant increase of 73% year-on-year, surpassing the expected $4.74 per share. The company expects third-quarter revenue to be in the range of $38.5 billion to $41 billion, with the midpoint of $39.75 billion higher than the market's expected $39.16 billion. Capital expenditures for the full year 2024 are expected to be in the range of $37 billion to $40 billion, up from the previous estimate of $35 billion to $40 billion. Total expenditures for the full year 2024 are expected to be in the range of $96 billion to $99 billion, consistent with previous guidance, with analysts expecting $97.3 billion