Meta Platforms reported its second-quarter revenue surged 28% year-over-year to $60.8 billion. While reported EPS fell 13% to $6.18, adjusted EPS, excluding legal and severance costs, reached $7.35, surpassing analyst estimates of $7.22. The company also raised the lower end of its 2026 capital expenditure (capex) guidance to $130 billion-$145 billion, up from the prior $125 billion-$145 billion range. For Q3, Meta forecasts revenue between $61 billion and $64 billion, representing 19% to 25% year-over-year growth. Despite strong revenue, overall expenses rose 55% to $42 billion, with Reality Labs posting a $4.6 billion loss. Analysts suggest the stock is a buy on the dip, citing strong core business growth driven by AI and a favorable valuation.