31
Jul
The social media giant surpassed analyst expectations in its second-quarter earnings report released Wednesday. Its revenue hit $39 billion, a 22% increase over the same period last year. Wall Street analysts had expected just over $38 billion.Meanwhile, the company said it expects infrastructure costs — such as the money it's plowing into building its artificial intelligence capabilities — to be a "significant driver of expense growth." It's expecting to spend at least $35 billion to $37 billion this year — an increase from its last estimate. It kept its maximum spend estimate at $40 billion for the year.And it is…