"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."
"Shares of Meta Platforms Inc. (NASDAQ: META) gained 1.14% over the past five trading sessions after gaining 2.03% 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 11.32%. The Magnificent Seven member's year-to-date performance stands at a gain of 9.66%."
Meta shares recovered after a more than 21% correction tied to AI CapEx concerns, rising 11.32% since bottoming on Nov. 19 and up 9.66% year-to-date. The company reported Q3 revenue of $51.24 billion, exceeding expectations, and adjusted EPS of $7.25, also beating estimates, while GAAP EPS of $1.05 fell well short. Third-quarter sales rose 26% year-over-year, the strongest revenue growth since FY 2024 Q1. Meta authorized a $50 billion stock buyback and began paying a dividend with a 0.33% yield (about $0.52 quarterly, $2.08 annualized). The company is heavily investing in artificial intelligence, and ad sales across Facebook, Instagram, and Threads drove decade-long revenue and net income expansion.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]