Meta’s revenue grew 11% YoY — the fastest growth rate in over a year (to reach $32 Billion)

Meta's revenue grew 11% YoY — the fastest growth rate in over a year (to reach $32 Billion).

Both revenue and profit for the second quarter exceeded expectations, with a significant rise in daily active by 7%, to 3.07 billion users (across Facebook, Instagram, and WhatsApp).

Profits were driven by a rebound in digital advertising revenue, and ad impressions on $META's apps rose 34%.

CEO Mark Zuckerberg cited excitement about Meta's generative AI model Llama 2, and the coming launch of the Quest 3 virtual reality headset.