Social network operator Meta Platforms (NASDAQ:META) will be announcing earnings results this Wednesday after market close. Here’s what to expect.
Meta beat analysts’ revenue expectations last quarter, reporting revenues of $60.8 billion, up 28% year on year. It was a slower quarter for the company, with revenue guidance for next quarter slightly missing analysts’ expectations. It reported 3.6 billion daily active users, up 3.4% year on year.
Is Meta a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Meta’s revenue to grow 23.6% year on year, slowing from the 26.2% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Meta has a history of exceeding Wall Street’s expectations.
With Meta being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for consumer internet stocks. However, investors in the segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Meta is down 4.8% during the same time .
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