New York (CNN) — If Meta investors had concerns about the company’s huge spending on artificial intelligence infrastructure and talent — and its ambitious “superintelligence” goal — they’re likely to be assuaged by its blockbuster earnings report on Wednesday. The results, as one analyst put it, indicates that “AI is becoming a real revenue driver, not just hype.”

Meta on Wednesday posted earnings of $7.14 per share on $47.5 billion in revenue from the quarter ended June 30. Earnings per share were up 38% from the year-ago period and well above the $5.88 that Wall Street analysts had expected.

It also projected revenue from the current quarter will be between $47.5 billion and $50.5 billion, also ahead of analysts’ expectations.

The strong results sent Meta shares up more than 9% in aft

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