Meta Platforms exceeded analyst expectations in Q2, reporting $47.5 billion in revenue, up 22%, and $7.14 earnings per share, up 38%. Daily active users increased to 3.48 billion, ad impressions rose 11%, and ad prices saw a 9% uptick. The company is investing heavily in AI and superintelligence, with $17.01 billion in capex for the quarter.

Despite increased spending, Meta’s expenses only grew by 12% in Q2. The company plans to invest $64-72 billion in capex for 2025 and expects a similar increase in 2026. Free cash flow was $8.55 billion, down 22% YoY. Meta’s strong performance led to a 9% stock increase in after-hours trading.

Meta projects Q3 revenue between $47.5-50.5 billion, with expenses rising 20-24% in 2025. The company’s focus on AI and superintelligence involves significant investments in infrastructure and talent. Investors are hopeful for success in these areas, despite previous challenges in the Metaverse space.

Read more at Nasdaq: Meta Earnings: Spending Big on AI