Meta reports better-than-expected sales in Q2, shares jump by 10%

Quick Summary:

Meta recently unveiled its largest model to date, which Zuckerberg said cost hundreds of millions of dollars in computing power to train.

Meta expects sales for the current quarter of $38.5 billion to $41 billion, compared with the average projection for $39.2 billion.

The company’s shares jumped as much as 10 per cent after trading opened in New York on Thursday, adding $123 billion in market value.

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Category: BusinessFinance

Markets: India

Topics: Facebook profits Meta profits AI Whatsapp profits

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 21:50:07 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 840 words

Reading Time: 5 minutes read

Sentences: 31 lines

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Copyright Owner: © Business Standard

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