Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter as well, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments.

Shares of the company rose 8% after the bell.

The Facebook and Instagram parent company said revenue rose 22% to $39.1 billion for the April to June period. Analysts had expected revenue of $38.3 billion, according to LSEG data.