Meta Generated $31.9 Billion in Operating Cash Flow Last Quarter and Kept Only $784 Million of It. Here's Where the Rest Went.
Nearly every dollar the company generated went right back out the door. Here's what it bought.
Overview
Social media giant Meta Platforms (NASDAQ: META) reported second-quarter results after the market closed Wednesday, and shares fell about 6% in after-hours trading as of this writing.
Revenue rose 28% year over year to $60.8 billion, and the advertising business behind it grew on both volume and pricing. The concern, however, sits further down the cash flow statement. Meta generated $31.9 billion in cash from operations during the quarter -- and kept just $784 million of it as free cash flow.
Details
Nearly everything else went into the company's build-out of AI (artificial intelligence) infrastructure.
Source
Originally published at www.fool.com.
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