Meta Platforms shares surged in after-hours trading after it blew out second-quarter earnings expectations Wednesday afternoon. Along with Alphabet’s second-quarter earnings report last week, Meta’s release reveals a lot of strength in digital advertising,

In the midst of an artificial intelligence spending spree, Meta posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased

Meta's strong earnings report sent its stock soaring after hours. The company also made it clear that the AI talent wars come with a hefty price tag.