Meta Platforms, Inc. Announces Increase In Q2 Profit, Beats estimates

(RTTNews) - Meta Platforms, Inc. (META) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $7.79 billion, or $2.98 per share. This compares with $6.69 billion, or $2.46 per share, in last year's second quarter.

Analysts on average had expected the company to earn $2.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.0% to $32.00 billion from $28.82 billion last year.

Meta Platforms, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $7.79 Bln. vs. $6.69 Bln. last year. -EPS (Q2): $2.98 vs. $2.46 last year. -Analyst Estimate: $2.63 -Revenue (Q2): $32.00 Bln vs. $28.82 Bln last year.