From Nasdaq: 2024-07-31 17:15:11

Meta Platforms (META) reported quarterly earnings of $5.16 per share, beating estimates and showing growth from $3.23 per share a year ago. The company surpassed revenue estimates as well, totaling $39.07 billion for the quarter, a 1.91% increase from the year before. The stock has shown a 30.9% gain this year.

Investors are now looking to the future of Meta Platforms and how it will perform. The company’s earnings outlook and estimate revisions will play a crucial role in determining its stock movement. Currently holding a Zacks Rank #3 (Hold), the stock is expected to perform in line with the market in the near future.

Another company in the same industry, Synchronoss (SNCR), is set to release its quarterly results soon. Projections show expected earnings of $0.07 per share, marking a +125.9% change from last year. Revenue forecasts predict $43.09 million, a decrease from the previous year. The stock market is anticipating the release on August 6.

Zacks experts have identified a potential high-growth stock in the same industry that targets young audiences and has shown strong revenue growth. This company has significant future potential and may outperform previous stock picks that saw substantial gains. This opportunity comes after a recent market pullback.



Read more at Nasdaq: Meta Platforms (META) Surpasses Q2 Earnings and Revenue Estimates