From Nasdaq: 2024-07-29 13:20:01

Meta Platforms (NASDAQ: META) stock has gained 28% YTD, outperforming the S&P500 index. The company is set to report its fiscal Q2 2024 results on July 31, 2024. Revenues in the last quarter increased by 27% y-o-y to $36.5 billion, with key metrics like family daily active people and ad impressions improving.

Despite a roller-coaster ride, META stock has seen significant gains, up 65% since early 2021. Revenues for Meta Platforms are expected to reach $159.6 billion in FY2024. The company’s Q2 2024 net revenues are estimated to be around $38.74 billion, slightly above consensus.

Adjusted earnings per share for Meta Platforms in Q2 2024 are expected to be $4.75, higher than the consensus estimate of $4.72. The company’s net income grew 69% y-o-y in FY 2023, driven by revenue growth and lower expenses. Operating margin in Q1 2024 was 38%, up from 25%.

A valuation of $509 per share is forecasted for Meta Platforms, 12% above the current market price. Trefis estimates an annual GAAP EPS of around $20.05 in FY2024. Returns for Meta Platforms in Jul 2024 stand at -10%, with a 28% YTD gain and a total return of 295% from 2017-2024.



Read more at Nasdaq: Meta Platforms Stock Is Up Twice As Much As S&P500, What To Expect From Q2 Results?