The company on Wednesday reported earnings per share of $2.98, which was higher than the $2.91 per share expected by a survey of Refinitiv analysts.
Revenue jumped 11% year over year to $32 billion, surpassing the $31.12 billion average analyst estimate, according to Refinitiv.
For the third quarter, the Facebook parent company forecast revenue of $32 billion to $34.5 billion.
Bank of America analyst Justin Post upped his price target on Meta shares to $375 from $350 and reiterated his buy rating on the stock.
"Meta is hitting its stride again with a renovated tech stack and Reels strategy, gaining share in the industry," Post wrote in a Thursday report.
Persons:
Mark Zuckerberg's, Goldman Sachs, Eric Sheridan, Justin Post, Post, CNBC's Michael Bloom
Organizations:
Revenue, Facebook, Meta, Bank of America, Labs
Locations:
opex