Meta earnings reveal cash flow drops 91% — while Zuckerberg writes op-eds about superintelligence

Profit fell 14% on legal bills and layoff costs, even as Zuckerberg pitches AI as personal superintelligence for everyone.

As it announced a $500 million renewal of The Walking Dead with Netflix, AMC Global Media also reported second-quarter results below Wall Street’s expectations. Shares in the media company, which have revived recently after a long spell in the doldrums, sank 6% on the earnings news in pre-market trading. Total revenue

July 29 (Reuters) - Meta Platforms reported a 91% drop in second-quarter free cash flow on Wednesday, underscoring the financial strain of the social media giant’s costly AI buildout amid an uncertain payoff.

Stock tumbles nearly 8% after weaker-than-expected results, despite CEO’s blitz to tout positive effects of AI Meta chief executive Mark Zuckerberg’s media spree touting the positive impacts of artificial intelligence did little to cushion the blow of its second-quarter earnings, which sent its stock tumbling on Wednes

Meta's free cash flow wiped out as AI buildout grows  Reuters

July 29 : Meta Platforms reported a precipitous 91 per cent drop in free cash flow on Wednesday, underscoring the financial strain of the social media giant's costly AI buildout despite an uncertain payoff.The company reported free cash flow of $784 million in the second quarter, down from $8.55 billion reported a year