Meta财报亮眼：AI驱动营收增22%，股价盘后暴增逾11%

Core Viewpoint - Meta's Q2 2025 financial results exceeded market expectations, driven by AI-optimized advertising systems and increased user engagement [3] Financial Performance - Total revenue for Q2 reached $47.52 billion, a year-over-year increase of 20%, with advertising revenue at $46.56 billion, up 21% [5] - Operating profit was $20.4 billion, representing a 43% margin, while net profit stood at $18.3 billion [5] - Free cash flow amounted to $8.5 billion, with capital expenditures of $17 billion primarily for server and data center investments [5] Key Metrics - Advertising impressions increased by 11% year-over-year, and the average price per ad rose by 9% [6] - Instagram video watch time grew by 20% year-over-year [6] Business Highlights and Strategic Directions - AI technology implementation led to a 5% increase in Instagram ad conversion rates and a 3% increase for Facebook, while reducing advertiser costs by 15% [8] - Meta AI achieved over 1 billion monthly active users, supporting automatic ad translation in 10 languages [9] - The company is building a gigawatt-level computing cluster named "Prometheus," set to launch in 2026 [10] Hardware and Metaverse - Sales of Ray-Ban smart glasses accelerated, with new Oakley collaborations enhancing battery life and design [11] - Collaboration with Xbox is expected to boost cloud gaming growth through Quest 3 [12] Capital Planning - Capital expenditures for 2025 are projected between $66 billion and $72 billion, with further increases in 2026 focused on AI talent and facilities [13] Regulatory Response - EU advertising policies may impact European revenue by 1-2%, prompting adjustments to personalized advertising strategies [14] Investor Q&A Summary - AI strategy has exceeded expectations in the past 3-6 months, with plans to enhance self-improvement capabilities over the next 24 months [16] - Spending growth in 2026 will primarily be driven by AI talent compensation and infrastructure depreciation [16] - The company plans to optimize recommendation systems to enhance platform engagement over the next 18 months [17]