Meta stock craters over bleak forecast and expensive metaverse bets
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- Nasdaq 100 leads US futures higher as Amazon surge offsets Apple decline
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- Meta sinks 8% after Q3 revenue forecast misses Wall Street estimates
- AI wizkid Leopold Aschenbrenner forced to sell entire portfolio after rout
- Microsoft rally lifts stocks, 30-year Treasury yield hits 19-year peak
- Wall Street ends sharply higher, lifted by soaring Microsoft
- KBR names its Mission Technology Solutions spinoff Trinzic
- AI wizkid Leopold Aschenbrenner forced to sell entire portfolio after rout
- Altria Group (MO) Misses Q2 EPS by 2c, Beats on Revenue; Offers FY26 EPS Guidance
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Stifel Weighs in on Meta Platforms (META) Following Results
October 26, 2022 5:58 PM EDTStifel analyst Mark Kelley offers comments on Meta Platforms (NASDAQ: META) following earnings.
The analyst commented, "Meta reported slightly better 3Q22 revenue of $27.7bn vs consensus $27.4bn, with advertising revenue ahead of the Street, while Other and Reality Labs revenue were below.... More
Goldman Comments on Meta Platforms (META) Q3 2022 Earnings
October 26, 2022 4:38 PM EDTGoldman Sachs analyst Eric Sheridan comments "We would expect investors to have an initial negative reaction to META's Q3 22 earnings report with a mixed set of results. On the positive, FX-neutral advertising revenue growth of +3% YoY was better than feared and in the top end of the guided range. In... More
Meta Platforms (META) Tumbles On Earnings Miss - Will Shrink Some Teams
October 26, 2022 4:28 PM EDTMeta Platforms (NASDAQ: META) shares jumped before falling in after-hours trading on Wednesday after the company posted third-quarter results, missing analyst profit estimates.
Meta Platforms shares initially rose up to 5% before immediately retracing. They are down over 11% at the time of writing.
The social media and metaverse company reported earnings per share of $1.64, $0.29 worse than the analyst estimate of $1.93, while revenue for the quarter came in at $27.71 billion versus the consensus estimate of $27.57 billion. Revenue decreased by 4% year-over-year, with the company stating that foreign exchange... More
JPMorgan Summary of Meta Platforms (META) Q3 2022 Earnings
October 26, 2022 4:24 PM EDTJPMorgan analyst Jack Atherton comments "META (-11% post mkt): Q3 revenue +2% FXN vs whispers +LSD%. Reported revenue $27.7b (-4%) vs guide $26.0- 28.5b. Family DAPs 2.93b vs Q2 2.88b; Facebook DAUs 1.98b vs Q2 1.97b. EPS $1.64 vs St $1.90. On the outlook, mgmt guiding to Q4 $30.0-32.5b... More
