Facebook parent Meta sees advertising jump, tops Wall Street targets

FILE PHOTO: Facebook's new rebrand logo Meta is seen on smartphone in front of displayed logo of Facebook, Messenger, Instagram, Whatsapp and Oculus in this illustration picture taken October 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Meta Platforms on Wednesday reported a strong rise in advertising revenue, topping Wall Street financial targets for the second quarter and forecasting third-quarter revenue above market expectations.

The results from Meta, Facebook's parent company, come a day after a strong performance from Alphabet's Google and make the case that consumers, and the advertisers eager to reach them, are spending despite broad economic concerns.