The company owns, among other things, Facebook and Instagram, and the revenues for the second quarter of the year amounted to 39.07 billion dollars – approximately 418 billion kronor. Market analysts had expected revenues of 38.31 billion dollars. Compared to last year, revenues increased by 22 percent, and the company has thus seen growth of over 20 percent for four consecutive quarters on an annual basis.
During the second quarter, Meta made a profit of 5.16 dollars per share. At the same time, analysts had expected a profit of 4.73 dollars per share, according to the analysis firm LSEG.
Meta is one of several technology companies that have made large investments in artificial intelligence, which CEO Mark Zuckerberg believes is necessary to avoid falling behind the competition.
"We have had a strong quarter, and Meta AI is on its way to becoming the most used AI assistant in the world by the end of the year," he says in a statement.
The company reports that 3.27 billion people used its services during the second quarter of the year.
Meta's report for the first quarter of 2024 was also strong, and the company's share reached a new record level at the beginning of July. In Wednesday's after-hours trading, the share increased by around five percent during the first half hour, before subsequently falling slightly.
