Earnings per share for Meta rose to $7.14 versus Wall Street’s consensus estimate of $5.88, according to FactSet, and up from $5.16 last year. Revenue for the quarter reached $47.5 billion, well above expectations of $44.8 billion, and up 22% on the year.

In the midst of an artificial intelligence spending spree, Meta posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased.

Key Takeaways Shares in Meta Platforms rose to start the week ahead of the tech giant’s highly anticipated quarterly earnings report, due after Wednesday’s close. After hitting an all-time high last month,