Meta Platforms reported a 14% decline in second-quarter profit to $15.85 billion, despite a 28% rise in revenue to $60.8 billion, beating analyst expectations. Free cash flow plummeted 91% to $784 million, weighed down by $2.40 billion in legal charges and $1.18 billion in severance costs related to recent layoffs. Quarterly expenses surged 55% to $42.03 billion. CEO Mark Zuckerberg published an op-ed in the Wall Street Journal promoting AI’s future and promising « personal superintelligence for everyone, » a message analysts say contrasts sharply with growing negative sentiment toward social media companies over youth safety concerns.
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