Meta reported a 28% increase in revenue to over $60 billion for the second quarter of 2026, but the company also took a $2.4 billion charge related to legal proceedings. The parent of Facebook and Instagram did not elaborate on the specific cases behind the charge. The earnings come as Meta continues to invest heavily in artificial intelligence and the metaverse while facing regulatory scrutiny in multiple jurisdictions. Separately, in a rare founder-to-founder transition, Babylist announced that Jenn Hyman, co-founder and former CEO of Rent the Runway, will take over as chief executive. Babylist founder Natalie Gordon will become executive chair. The baby registry company is nearing $1 billion in revenue and is expected to go public soon. The two developments are unrelated but highlight contrasting corporate narratives: Meta grappling with legal costs and regulatory pressure while posting strong growth, and Babylist positioning for an IPO with a new leader.