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Meta's second-quarter operating profit was US$18.78 billion, down 8.2% year on year; advertising revenue was US$59.36 billion and total app family revenue was US$60.37 billion, both exceeding expectations; however, the App Family business's operating profit was US$23.39 billion, lower than market expectations of US$26.11 billion; Reality Lab's revenue of US$431 million was better than expected, with losses growing to US$4.62 billion, and the market expected loss of US$4.45 billion.
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Meta's second-quarter operating profit was US$18.78 billion, down 8.2% year on year; advertising revenue was US$59.36 billion and total app family revenue was US$60.37 billion, both exceeding expectations; however, the App Family business's operating profit was US$23.39 billion, lower than market expectations of US$26.11 billion; Reality Lab's revenue of US$431 million was better than expected, with losses growing to US$4.62 billion, and the market expected loss of US$4.45 billion.
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