Meta reported second-quarter earnings that surpassed analysts' expectations, sending shares to new highs in extended trading.

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

At last glance, META stock is up 12.48% to trade at $782.71, on track for its best single-session gain since April 9. In response, 35 brokerages have issued price-target hikes, the highest coming from Rosenblatt Securities to $1,