Meta’s Q2 revenue rose 28% to $60.8 billion, but adjusted EPS fell short at $6.18 due to one-time charges.
Meta Platforms reported second-quarter revenue of $60.8 billion, up 28% year over year and $2 billion above analyst estimates. However, adjusted earnings per share declined 13.4% to $6.18, missing the $7.22 consensus forecast.
The earnings miss was driven by $2.4 billion in legal charges and $1.18 billion in severance costs tied to layoffs. Without these one-time expenses, adjusted operating income would have reached $22.355 billion, exceeding expectations and growing 9% from the prior year.
Shares fell more than 11% in extended trading as investors reacted to the EPS shortfall despite the revenue beat.