Mark Zuckerberg Just Announced Great News for Meta's Shareholders
This Magnificent Seven stock continues to slide. Investors should buy the dip before it rebounds.
Overview
Meta Platforms (NASDAQ: META) released its second-quarter earnings report on July 29. The company's financial results weren't bad, at least as long as we stop at the top line. Meta's revenue grew by 28% year over year to $60.8 billion. But the tech leader's earnings per share dropped 13% year over year to $6.18, while its free cash flow came in at $784 million, down almost 91% from the year-ago period.
Meta Platforms is pouring a small fortune into its artificial intelligence (AI)-related ambitions, and it is impacting its margins and bottom line. It's no wonder that many people are running for the exit. However, recent comments from Meta's CEO, Mark Zuckerberg, should give investors some confidence that the company might eventually reap the benefits of these investments.
Image source: The Motley Fool.
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Originally published at www.fool.com.
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