News Summary

• Meta's revenue in Q2 was up 28% from a year earlier, beating expectations.
• But operating income for Family of Apps, the segment containing Facebook, Instagram, WhatsApp and Messenger, fell to $23.4 billion from $25.0 billion.
• The money that the company is earning is immediately being used—with most of it not going to investors.
• Meta issued $24.9 billion of long-term debt during the quarter and bought back no stock, after repurchasing more than $10 billion a yearEarlier.