Meta Platforms reported a blowout quarter with revenue climbing 22% to $47.52 billion, exceeding expectations. Shares surged over 11.5% in after-hours trading to $776. The company raised its stock price target to $825 per share. Meta continues to dominate targeted advertising and invest in AI, metaverse, and virtual reality projects. Third-quarter revenue is expected to range between $47.5 billion to $50.5 billion, surpassing consensus estimates. The company also raised its full-year capital expenditures and total expenses guidance for 2025 and 2026. Meta is aggressively pursuing opportunities in AI to drive further growth.

Read more at CNBC: We’re raising our Meta price target big time after a stellar quarter and an incredible guide