Meta Platforms Inc. reported a stronger-than-expected second-quarter earnings result, with a profit of $13.5 billion, leading to a nearly 7% increase in its share price. The company's revenue growth was bolstered by a 22% year-over-year rise in its core advertising business, surpassing analysts' expectations of 20%. Following the earnings report, Meta shares surged approximately 10% in pre-market trading, adding $123 billion to its market value. CEO Mark Zuckerberg highlighted the company's ambitious goal for Meta AI to become the most used generative AI assistant by the end of the year, emphasizing its rapid improvement in intelligence and features. Despite the positive earnings report, Meta warned of 'significant' capital expenditure expansion planned for 2025, which has raised some concerns among investors. Analysts responded positively, with multiple firms raising their price targets for Meta shares, with estimates ranging from $475 to $647.