Market Movers rounded up the best reactions from investors and analysts on Meta . The pros, including Jim Cramer , discussed the social media giant. Late Wednesday , Meta reported second-quarter earnings of $2.98 per share versus $2.91 per share expected by analysts, per Refinitiv. The company’s $32 billion in revenue was nearly a billion more than estimates. The Facebook parent’s stock closed 4.4% higher Thursday. Meta’s Chief Financial Officer Susan Li joined CNBC to unpack the results and explain how its “year of efficiency” is paying off. She said the company’s profits were due in part to its digital advertising growth, Reels and cost-cutting measures. The stock hit a new 52-week high Thursday, trading at levels not seen since February 2022. Wells Fargo also upgraded the stock to overweight from equal weight. Meta is currently held in Cramer’s Charitable Trust Portfolio.
Source: www.cnbc.com