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Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter

Channel News Asia LogoChannel News Asia4h ago

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter - Channel News Asia

Quick Summary:

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter as well, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments.

It also said it anticipates third-quarter revenue in the range of $38.5 billion to $41 billion, the midpoint of which is slightly higher than analysts' estimates of $39.1 billion.

Meta's earnings come after disappointing results posted by fellow tech industry powerhouses which suggested the payoff from hefty investments in AI technology may take longer than Wall Street had hoped.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 04:07:16 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 530 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21876403

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About Channel News Asia

Channel News Asia Logo

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 78 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 49 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

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