Meta Platforms reported strong Q3 earnings, beating analyst estimates and positioning the stock for growth.

From Nasdaq: 2024-10-30 18:30:15

Meta Platforms reported strong financial results for the quarter ended September 2024, with revenue of $40.59 billion, up 18.9% year-over-year, and an EPS of $6.03. Key metrics like Family DAP, ARPP, and advertising revenue exceeded analyst estimates, positioning the stock for potential growth. Shares have returned +2.9% in the past month.

Investors are closely watching Meta Platforms’ performance metrics, which beat analyst estimates across key areas like revenue from different regions, advertising, and various segments. The company’s revenue growth of +18.8% for the Family of Apps and +23% for Rest of the World advertising revenue signals a positive outlook for the stock.

With a Zacks Rank #2 (Buy), Meta Platforms shows potential for outperforming the market in the near term. The company’s strong earnings growth and expanding customer base align with the increasing demand for AI, ML, and IoT technologies. The global semiconductor market is expected to grow significantly from $452 billion in 2021 to $803 billion by 2028, presenting further growth opportunities for the company.



Read more at Nasdaq: Meta Platforms (META) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates