Surpassing projections for profit marks the 10th-straight quarter Meta reported a profit beat, after Meta’s EPS came more than a dollar above projections in the first quarter, while a revenue beat marks Meta’s 12th in a row after topping estimates by nearly $1 billion last quarter.

Meta investors will be scrutinizing CEO Mark Zuckerberg’s AI hiring blitz during the company’s second-quarter earnings on Wednesday.

Meta Platforms is set to report second-quarter results after the market closes Wednesday, with traders expecting the stock could test record highs following the report.

Meta’s heavy AI spending is boosting ad revenue — and the company is only getting more profitable in the process.