00:00MetaPlatforms exceeded market projection for second-quarter revenue, indicating that strong
00:05digital ad spending on its social media platforms may offset its artificial intelligence or AI
00:12expenditures. According to LSEG statistics, the parent company of Facebook and Instagram
00:19expects third-quarter revenue in the range of $38.5 billion to $41 billion,
00:26with the midpoint of that range being higher than analysts' projection of $39.1 billion.
00:32Moreover, the tech giant said their revenue increased by 22 percent to $39.1 billion
00:38during the April-June period, surpassing analysts' projected revenue of $38.3 billion.
