Meta Reports Earnings Today. What to Expect.

In recent quarters, Meta Platforms CEO Mark Zuckerberg has been talking more about artificial intelligence and cost cutting, while focusing less and less on the company’s multibillion-dollar investment in the metaverse. Expect more of the same when the parent of Facebook, Instagram, WhatsApp, and Threads reports results after the close Wednesday.There are many moving parts right now in the Meta story, but advertising still accounts for most of the company’s revenue.

Meta shares have rallied 162% this year, driven largely by the company’s “year of efficiency” push to reduce costs and boost margins, which has included more than 20,000 job cuts since last November. In reporting results for the June quarter, Meta also slashed its full-year 2023 capital spending budgets to a range of $27 billion to $30 billion, from a previous forecast of $30 billion to $33 billion, citing savings in non-AI servers, among other things.

Evercore ISI analyst Mark Mahaney asserts in a research note previewing the quarter that advertising channel checks find “stable to modestly accelerating spending trends,” with “consistently bullish sentiment from advertisers on Meta’s momentum.” He adds that all the factors that weighed on the stock last year—including monetization of its Reels short-video service and ad targeting and measurement—have become tailwinds for the stock.

On operating metrics, Mahaney looks for 3.01 billion monthly active users, up 2%, with 2.02 billion daily active users, likewise up 2%.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Meta earnings should show continued ad dominance — but a new Apple battle loomsEarnings preview: Meta reports third-quarter results Wednesday afternoon
Source: MarketWatch - 🏆 3. / 97 Read more »

Microsoft Reports Earnings Today. What to Expect.Microsoft shares have stalled as investors await a payoff from generative AI.
Source: MarketWatch - 🏆 3. / 97 Read more »

Meta Earnings: Zuckerberg Will Need More Than Efficiency to Justify Parabolic RiseStocks Analysis by Investing.com (Francesco Casarella) covering: Meta Platforms Inc, Facebook Inc, Meta Platforms Inc BDR, BNP PARIBAS ARBITRAGE ISSUANCE BV Put 180.75 USD FACEBOOK 31Dec99. Read Investing.com (Francesco Casarella)'s latest article on Investing.
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow closes higher amid better-than-expected corporate earningsStock Market Today: Dow closes higher amid better-than-expected corporate earnings
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Treasury rebound gives stocks a lift; mega-cap tech earnings on deckInvestors are waking up to a huge day on Wall Street, with a host of third quarter earnings, PMI data, a 2-year note auction and mega-cap tech updates all on the slate.
Source: startelegram - 🏆 248. / 63 Read more »

Verizon Reports Third-Quarter Earnings, Fios SubscribersThe telecom giant, led by CEO Hans Vestberg, posts its latest results.
Source: THR - 🏆 411. / 53 Read more »