Meta Platforms (META) posted better-than-expected second quarter results. The social media giant reported earnings of $5.16 per share versus an estimate of $4.72. Revenue of $39.07 billion topped the $38.43 billion estimate, with ad revenue also exceeding analyst expectations.

For Q3, Meta forecasts revenue of $38.5 billion to $41 billion. The Street had been looking for $39.16 billion.

The operating loss for Reality Labs was $4.49 billion compared to the expected $4.53 billion. The company warned, however, that it expects "significant capital expenditures growth" in 2025.

Market Domination Overtime anchors Julie Hyman and Jared Blikre break down Meta's latest quarterly report.

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This post was written by Stephanie Mikulich.