Meta Platforms exceeded second-quarter revenue and earnings expectations, reporting $47.52 billion in revenue and $7.14 earnings per share, surpassing analyst forecasts of $44.83 billion and $5.89 respectively. This positive performance resulted in a nearly 10% surge in after-hours trading. Investors are keen to learn more about Meta's AI initiatives, particularly in advertising, capital expenditure, and recent hiring focused on AI development. Meta stock closed Wednesday up 19% year-to-date.

Prepared by Christopher Adams and reviewed by editorial team.