Meta Earnings: Stock Rallies As Facebook Parent Notches Most Profitable Quarter Since 2021

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It was Facebook parent’s most profitable quarter since 2021—even as metaverse losses totaled $3.7 billion.

Meta shares rallied Wednesday after delivering another quarterly earnings report that topped Wall Street’s expectations, extending the sizzling stock's winning streak as the company leaves its metaverse slipup in the rearview mirror.... [+]Meta reported $32 billion of sales and $2.98 earnings per share, beating consensus analyst estimates of $31.1 billion of revenue and $2.91 earnings per share, according to FactSet.

In its earning release, Meta projected sales during the current quarter to come in between $32 billion and $34.5 billion — smashing consensus estimates of $31.1 billion

 

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