11:19 AM EDT, 07/28/2025 (MT Newswires) -- Meta Platforms ( META ) is expected to deliver a Q2 earnings beat with revenue at the high end of the guidance, BofA securities said Monday in a note.

Capital spending is the biggest concern after the company ramped up hiring to bolster artificial intelligence, and Meta may raise the lower end of 2025 expense guidance of $113 billion to $118 billion, the note said.

Investors may focus on the return on AI investments, a roadmap for ad products in H2 and new revenue opportunities from Llama licensing, BofA said. Q2 results are expected Wednesday.

Earnings in Q3 may be $6.20 a share on revenue of $46.9 billion, topping Wall Street estimates of $5.91 a share on revenue of $45.9 billion, the note said.

BofA reiterated its buy rating on Meta stock with a price target of $775.

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