The stock of Meta Platforms (NASDAQ: META) is making big gains today following its recent quarterly report. The company's share price was up 6.1% as of 12:30 p.m. ET on Thursday, according to data from S&P Global Market Intelligence.

Meta Platforms published its second-quarter results after the market closed on Wednesday and reported sales, earnings, and engagement figures that beat Wall Street's targets. The social media company formerly known as Facebook also issued some very encouraging guidance, and its stock has received a wave of price-target increases from analysts.

Meta posted revenue of $39.07 billion and earnings per share of $5.16 in the second quarter. The company's results came in $760 million higher than the average analyst estimate and beat Wall Street's profit target by $0.40 per share.

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Source Fool.com