The parent company of Facebook and Instagram continues to exceed expectations for ad sales. Analysts are less sure about its big swings. Meta Platforms released blockbuster second-quarter earnings on Wednesday,

Meta Platforms CEO Mark Zuckerberg expects to deliver “personal superintelligence for everyone” but his ambitious bets on AI are impacting the company’s cash flows and are likely to hit expenses even harder as Meta soups up its AI capabilities and continues its hiring spree .

Meta Platforms forecast third-quarter revenue well above Wall Street estimates on Wednesday, as artificial intelligence continued to strengthen its core advertising business, sending its shares up 10% in extended trading.