Meta’s Q2 revenue soared 28% to $60.8 billion, beating forecasts, but profit took a hit—down 14% year-over-year—thanks to soaring expenses, including $2.4 billion in legal fees and $1.18 billion in severance from recent layoffs. User growth remains strong: Meta’s apps (Facebook, Instagram, WhatsApp, Threads) hit 3.6 billion daily active users, with Instagram crossing 2 billion. Looking ahead, Meta forecasts Q3 revenue between $61B–$64B (slightly below some analyst expectations) and raised its 2026 expense forecast to $165B–$169B. The profit pressure sent Meta’s stock lower after hours.

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