2 Aug 2024 CMB International Global Markets | Equity Research | Company Update Meta (META US) 2Q24 earnings beat; intact FY24 earnings growth outlook despite AI investment Meta announced 2Q24 results: total revenue increased by 22% YoY to US$39.1bn, 2% ahead of Bloomberg consensus estimate; net income grew by 73% YoY to US$13.5bn, beating consensus estimate by 10%, primarily due to effective control in headcount-related expenses. For 3Q24E, management expects total revenue to grow by 13-20% YoY to US$38.5-4 ...