Meta's Q2 advertising revenue reached $59.36 billion, up 27% year-over-year, narrowing the gap with Google Search to $3.9 billion. AI played a key role, boosting ad impressions by 14% and cost per impression by 12%. Meta captured nearly half of incremental digital ad spending, while analysts gave 38 buy ratings with an average price target of $752.61. The company is also expanding its Business Agent on WhatsApp and Messenger, with over a million users and a paid plan in the pipeline.
Meta reported Q2 advertising revenue of $59.36 billion, a 27% increase from a year ago, edging closer to Google's search business. Google Search and other related revenue came in at $63.27 billion, up 17%, narrowing the gap from nearly double last year to just $3.9 billion.
Bernstein analysts highlighted AI as the biggest driver of Meta's ad growth, with ad impressions rising 14% and cost per impression climbing 12%. Meta captured nearly half of all incremental digital ad spending in the quarter. Alphabet, Google's parent, posted total advertising revenue of $81.63 billion, while its cloud business generated $24.8 billion, up 82%, providing a more direct monetization channel for AI investments.
Wall Street analysts issued 38 buy ratings on Meta, with an average price target of $752.61. Meta is also rolling out its Business Agent assistant on WhatsApp and Messenger, which has already surpassed one million users, and plans to introduce a paid tier. (BeInCrypto)
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