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Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump

By BARBARA ORTUTAY
Published - Jul 26, 2023, 04:39 PM ET
Last Updated - Jul 26, 2023, 04:39 PM EDT

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump.

The Menlo Park, California-based company earned $7.79 billion, or $2.98 per share, in the April-June period. That's up 16% from $6.69 billion, or $2.46 per share, in the same period a year earlier.

Revenue jumped 11% to $32 billion from $28.82 billion in the year-ago quarter.

Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research.

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