"Shares of Meta Platforms Inc. (NASDAQ: META) gained 1.44% over the past five trading sessions after gaining 1.14% the five prior. The fallout from concerns over its AI CapEx announced during the company's Q3 earnings report caused the stock to correct more than 21%, but since bottoming on Nov. 19, shares of META are up 12.64%. The Magnificent Seven member's year-to-date performance stands at a gain of 10.96%."
"When the company reported Q3 earnings on Oct. 29, it announced quarterly revenue of $51.24 billion, beating analysts' expectations of $49.41 billion by 26.2%. Adjusted EPS came in at $7.25, beating expectations of $6.69 by 20.2%. But GAAP ESP of $1.05 fell 82.6% short of expectations of $6.70. Still, the company's third-quarter sales rose 26% year-over-year, which is its highest revenue growth since FY 2024 Q1."
Meta Platforms' shares recovered after a 21% correction tied to concerns over AI capital expenditures, rising 12.64% since Nov. 19 and gaining 10.96% year-to-date. Quarterly revenue reached $51.24 billion, beating expectations, and adjusted EPS was $7.25, also above estimates, while GAAP EPS of $1.05 missed expectations substantially. Third-quarter sales rose 26% year-over-year, the highest since FY2024 Q1. The company authorized a $50 billion stock buyback and initiated a dividend yielding 0.33% (52 cents quarterly, $2.08 annualized). Meta is expanding into broader tech and heavily investing in artificial intelligence, driving long-term price forecasts. Ten-year revenue grew from $12.466 billion to over $164 billion, and net income rose to over $62.36 billion.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]