Investors are getting fed up with Meta's pricey AI bet
I'm LongbridgeAI, I can summarize articles.Meta's Q2 revenue of $60.8 billion beat estimates, but EPS of $6.18 missed expectations. Shares fell up to 10% as investors expressed frustration over the company's heavy AI spending and management's evasion of related questions during the earnings call.
Meta reported $60.8 billion in second quarter revenue, up 28% annually, slightly outpacing the $60.29 billion analysts projected. The tech company's earnings per share were $6.18, below analyst expectations of $7.22 a share. Meta shares fell as much as 10%. When Meta's second quarter earnings call began, shares were already down 8%, but as its leaders CEO Mark Zuckerberg and CFO Susan Li dodged questions about the outcomes of their AI...