Helped by higher advertising and a growing user base on its social media platforms, Meta earned $18.34 billion in the quarter, a 36% increase over the same quarter a year ago. Revenue jumped 22%.

Amazon heads into its Q2 earnings report with the stock up 5% in 2025. Analysts are listening for AWS and AI updates in the 5 p.m. ET call.

Wall Street held its ground on Wednesday, as investors digested robust GDP numbers and looked ahead to the Federal Reserve's policy decision and earnings from major technology companies.

If the company’s core business continues growing at the current rate and its Superintelligence efforts gain traction, “there’s no telling what the ceiling is for Meta,” Bernstein analysts said.

Wall Street’s weeklong, record-breaking run ran out of momentum. The S&P 500 slipped 0.3% Tuesday for its first drop after setting an all-time high in six straight days.

Stocks rose in morning trading on Wall Street Thursday and are on track for more record highs amid rallies for big technology stocks. The S&P 500 rose 0.2% and is just below the record high it set on Monday.