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Live updates: Meta to report quarterly earnings today after market close

Live updates: Meta to report quarterly earnings today after market close

Matthew Fox

Ronny Hartmann/Getty

Meta reports second-quarter earnings on Wednesday.
Investors will be watching closely for signs that big AI spending is paying off.

Meta will report second-quarter earnings on Wednesday after the closing bell.

While Meta has built up its AI capabilities in a big way, having stockpiled about 600,000 H100 GPUs from Nvidia, its main driver of earnings remains its product platforms including Instagram, Reels, Facebook, and Messenger.

The company will be vying to prove to investors that its massive investment in AI chips is worth it, as it's shown minimal progress so far in monetizing its sizable investment.

Meta's stock was up 31% year-to-date through Tuesday's close, handily outpacing the the S&P 500's 14% gain.

Meta's consensus second-quarter revenue estimate is $38.34 billion.

2nd quarter

Revenue estimate: $38.34 billion
- Advertising rev. estimate: $37.57 billion
- Family of Apps revenue estimate: $37.76 billion
- Reality Labs revenue estimate: $376.9 million
- Other revenue estimate: $344.6 million
Operating income estimate: $14.59 billion
- Family of Apps operating income estimate: $18.69 billion
- Reality Labs operating loss estimate: $4.53 billion
Operating margin estimate: 37.7%
EPS estimate: $4.74
Ad impressions estimate: +13%
Average price per ad estimate: +5.96%
Average Family service users per day estimate: 3.22 billion

Third quarter

Revenue estimate: $39.17 billion

Full-year 2024

Total expenses estimate: $97.73 billion
Capital expenditure estimate: $37.57 billion

Here's a closer look at how much Big Tech is spending on AI

Live updates: Meta to report quarterly earnings today after market close

Matthew Fox

Meta's consensus second-quarter revenue estimate is $38.34 billion.

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