Meta, the internet advertising business, where sales for the 2nd quarter exceeded expectations, is doing well

August 1, 2024 7:41 AM GMT+9 (some excerpts)

Sales exceeded market expectations for the 2nd quarter financial results announced by US Meta Platforms on the 31st. Sales for the third quarter also showed a positive outlook. Internet advertisements were doing well, and it was suggested that the increase in investment in artificial intelligence (AI) could be covered.
In response to the announcement of financial results, stock prices temporarily rose 4% due to overtime trading.
Sales for the April-June period increased 22% to 391 billion dollars. It exceeded analysts' predictions of 383 billion dollars compiled by LSEG.
Sales for the third quarter are expected to be 385 billion to 41 billion dollars. The median figure slightly exceeded analysts' estimates of 391 billion dollars.