From CNBC: 2024-07-31 12:00:01

Meta will report second-quarter earnings, analysts expect $4.73 EPS and $38.31B revenue, up 20% from last year. Spending on AI and metaverse is increasing, with a projected $35-$40B capex for 2024. Meta is investing heavily in AI chips and models, unveiling Llama AI to rival OpenAI and Google. Pinterest warns of ad market weakness, impacting stocks like Alphabet’s YouTube. Pinterest reports softness in food and beverage ads. Meta’s Reality Labs division, focusing on metaverse tech, continues to incur losses, with an expected $4.55B operating loss this quarter.



Read more at CNBC:: Meta Q2 earnings report 2024