News Summary

• Meta reported revenue of billion for its quarter ending in June marking an increase compared to the same period last year and beating Wall Street s expectations
• Results mark Meta s second consecutive quarter of revenue growth after a brutal which was notable for revenue declines
• The results come as demand for digital ads appears to be picking up steam again and as investor enthusiasm surrounding AI has helped buoy the tech sector in recent months
• The report also comes just weeks after Meta rolled out its competitor to Twitter Threads The app gained a stunning million user sign ups in less than a week after its launch