Meta Platforms (META) is set to report second-quarter earnings after the closing bell on Wednesday, with investors watching for advertising revenue strength and updates on artificial intelligence (AI) plans after its most recent AI model announcement.
The Facebook and Instagram parent is expected to report revenue of $38.35 billion, according to estimates compiled by Visible Alpha, about a 20% rise over the year-ago period. Net income is projected to be $12.31 billion, or $4.71 per share, a 58% jump from the year-ago quarter.
Meta will report its second-quarter ad revenue with Citi analysts expecting the figure to grow 20.5% from the year-ago period to $37.95 billion, citing a strengthening ad environment, adoption of Instagram Reels, and new products for advertisers.
Most advertisers plan to spend more or maintain spending on Meta platforms, a survey conducted by Wedbush analysts found, which could contribute to strong second-quarter results and set the company on a positive trajectory for …