cnbc_topnews

Meta reports second-quarter results after the close

📰 source: cnbc_topnews · 💼 business

meta reports second-quarter results after wednesday's close. wall street expects adjusted earnings of $7.22 per share on revenue of $60.17 billion, up 26% from last year. the core ad business benefits from ai, but the company is spending heavily on ai models and infrastructure. it hired alexandr wang in june and invested $14.3 billion in scale ai. meta announced a $14 billion data center with blackrock in texas, a $50 billion-plus project in louisiana, and a $9 billion one in alberta. shares are down 10% this year as investors question returns from capex, which meta raised to a high of $145 billion for the year. meta lacks a cloud business but may lease ai capacity to anthropic. for q2, it expects 3.61 billion daily active people and average revenue per person of $16.65. reality labs is forecast to lose $5.07 billion on revenue of $423.4 million.

why it matters: meta's earnings will test whether heavy ai spending is driving ad growth and justifying its valuation.

source: cnbc_topnews
sentiment: +0.20 · impact: 0.85

Surprise fall in US jobs last month as slow summer continues

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Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

📰 source: cnbc_topnews · 💼 business homes sold for less than their asking price in 38 of the 50 largest u.s. housing markets in june, per redfin. the biggest discounts hit florida and texas: miami and west palm beach averaged nearly 5% below asking, while houston, austin, tampa, dallas, san antonio,

China is gaining ground in AI. But the U.S. still has a major advantage

📰 source: cnbc_topnews · 💼 business hugging face ceo clément delangue told cnbc china is clearly dominating on open models and could start dominating at the frontier by end of this year or next. chinese models are closing the gap with u.s. frontier systems despite limited access to cutting-edge compute. beijing-based

US strikes $1.2bn deal to pay German firm to halt offshore wind projects

📰 source: bbc_business · 💼 business rwe will abandon its offshore wind projects in the us after accepting a $1.2bn payout from the department of the interior. the german energy firm said it will reinvest the money into gas projects, including $900m for an lng export terminal in louisiana. rwe will

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects