Meta bets on AI-driven cloud play as Q2 revenue climbs and margins tighten
TL;DR Summary
Meta Platforms posted Q2 revenue of $60.8 billion, up 28% year over year, but earnings per share fell to $6.18 and free cash flow plunged about 91% to $784 million as heavy AI investments weighed on margins. CEO Mark Zuckerberg indicated Meta is exploring a cloud-computing business, including potential compute rentals to Anthropic, signaling a new growth engine alongside a strong ad business and 3.6 billion daily active users.
Topics:business#artificial-intelligence#cloud-computing#earnings#finance#meta-platforms#revenue-growth
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