Meta's Q2 Earnings Miss on Legal Costs and AI Spending

In its second-quarter earnings report, Meta Platforms revealed a profit of $6.18 per share, alongside a revenue of $60.80 billion. This fell short of analysts' predictions, which anticipated earnings of $7.22 per share, even though the revenue marked a 28% increase compared to the previous year. The discrepancy was linked to higher legal expenses and rising investments in AI. However, the revenue did surpass the consensus estimate of $60.17 billion. CNBC provided the coverage of these results.