Meta (Nasdaq: META), formerly Facebook, announced its quarterly results last week that outpaced market expectations. The market is also buoyed by the longer term vision for AI that Meta shared across its product portfolio. Meta's Financials Meta's Q2 revenues grew 22% to $39.07 billion, ahead of the Street's expected $38.31 billion. This was the fourth consecutive quarter that Meta delivered a growth rate of over 20%. Earnings came in at $5.16 per share and were also ahead of the market's forecast of $4.73. Meta's financials continued to benefit from its cost-cutting initiatives that it started in 2022. It has eliminated about 21,000 jobs over multiple rounds of layoffs and improved the operating income 58% from a year earlier to $14.9 billion. Its operating margin grew from 29% a year ago to 38%. Meta is divesting the reduced spend into investments in AI. Among key metrics, Family daily active people (DAP) grew 7% to 3.27 billion on average for June. Ad impressions