US Stock Market Move | Q2 performance shines and guidance exceeds expectations Meta (META.US) soars by over 12%, market value approaches 2 trillion US dollars.

On Thursday, Meta Platforms (META.US) opened with a sharp rise of over 12%, reaching a historical high and approaching a market value of nearly $2 trillion. In terms of news, Meta Platforms disclosed strong second-quarter revenue and third-quarter guidance, indicating that this social media giant's advertising business is still growing rapidly enough to support its massive expenditure in the field of artificial intelligence (AI). Data shows that Meta's second-quarter revenue was $47.52 billion, a 22% year-on-year increase, which was better than market expectations; diluted earnings per share were $7.14, a 38% year-on-year increase, also surpassing market expectations. Meta expects third-quarter revenue to be between $47.5 billion and $50.5 billion, with the midpoint of this range exceeding analysts' average expectation of $46.2 billion. Meta stated that costs will continue to rise at a faster pace next year, particularly in infrastructure construction and employee compensation. Hargreaves Lansdown stock analyst Matt Britzman stated, "All of these expenditures will have a certain impact on the company's profitability in the short term, but in the long run, Meta is likely to become a clear winner in the field of artificial intelligence." He said that Meta's performance in the second quarter was "extremely outstanding," partly because improvements in artificial intelligence allowed the company to increase the average price of advertisements.