Meta Platforms (NASDAQ: META) reported Q2 EPS of $2.98, $0.07 better than the analyst estimate of $2.91. Revenue for the quarter came in at $32 billion versus the consensus estimate of $31.08 billion.

GUIDANCE:

Meta Platforms sees Q3 2023 revenue of $32-34.5 billion, versus the consensus of $31.2 billion.

• Family daily active people (DAP) – DAP was 3.07 billion on average for June 2023, an increase of 7% year-over-year.
• Family monthly active people (MAP) – MAP was 3.88 billion as of June 30, 2023, an increase of 6% year-over-year.
• Facebook daily active users (DAUs) – DAUs were 2.06 billion on average for June 2023, an increase of 5% year-over-year.
• Facebook monthly active users (MAUs) – MAUs were 3.03 billion as of June 30, 2023, an increase of 3% year-over-year.
• Ad impressions and price per ad – In the second quarter of 2023, ad impressions delivered across our Family of Apps increased by 34% year-over-year and the average price per ad decreased by 16% year-over-year.
• Revenue – Revenue was $32.0 billion, an increase of 11% year-over-year, and an increase of 12% year-over-year on a constant currency basis.
• Costs and expenses – Total costs and expenses were $22.61 billion, an increase of 10% year-over-year. This includes accrued legal expenses of $1.87 billion and restructuring charges of $780 million in the second quarter of 2023.
• Capital expenditures – Capital expenditures, including principal payments on finance leases, were $6.35 billion for the second quarter of 2023.
• Share repurchases – We repurchased $793 million of our Class A common stock in the second quarter of 2023. As of June 30, 2023, we had $40.91 billion available and authorized for repurchases.
• Cash, cash equivalents, and marketable securities – Cash, cash equivalents, and marketable securities were $53.45 billion as of June 30, 2023. Free cash flow was $10.96 billion in the second quarter of 2023.
• Long-term debt – Long-term debt was $18.38 billion as of June 30, 2023.
• Headcount – Headcount was 71,469 as of June 30, 2023, a decrease of 14% year-over-year. Approximately half of the employees impacted by the 2023 layoffs are included in our reported headcount as of June 30, 2023.

For earnings history and earnings-related data on Meta Platforms (META) click here.