Meta Platforms stock is up 40% YTD, exceeding S&P 500, with strong Q2 results.

From Nasdaq: 2024-08-06 00:53:43

Meta Platforms’ stock has surged 41% year-to-date, outperforming the S&P 500. Despite trading at $498 per share, 6% below its fair value of $527, Meta Platforms has shown strong gains and volatility over the years. The company’s Q2 results exceeded expectations, with revenues up 22% and net income jumping 73% to $13.5 billion.

In the first half of FY2024, Meta Platforms saw a 25% increase in revenue to $75.5 billion, driven by advertising growth. Key metrics like family daily active people and ad impressions also grew. With an improved operating margin of 39%, net income soared 91% to $25.8 billion. Q3 revenues are expected between $38.5-41 billion, projecting a total revenue of $158.3 billion in FY2024.

Looking at historical returns, Meta Platforms has delivered a 41% YTD return, surpassing the S&P 500 and the Trefis Reinforced Value Portfolio. With a promising outlook for Q3 and expected FY2024 revenues of $158.3 billion, the company is eyeing a strong performance. Trefis’ estimates reflect a potential valuation of $527 for Meta Platforms.



Read more at Nasdaq: Meta Platforms Stock Is Up 40% YTD, Where Is It Headed?