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With Meta Platforms’ inventory down greater than 60% on the yr and fellow digital advert large Alphabet having missed estimates yesterday, it’s protected to say expectations are pretty low heading into Meta’s newest earnings report.
Amongst analysts polled by FactSet, the consensus is for the social-media large to report third-quarter income of $27.44 billion (down 5% yearly) and GAAP EPS of $1.90 (down 41%).
Meta sometimes supplies quarterly gross sales steering in its earnings report. The corporate’s income consensus for the seasonally large fourth quarter stands at $32.3 billion (down 9% yearly).
Eric Jhonsa, Actual Cash’s tech columnist, can be live-blogging Meta’s earnings report, together with a convention name with administration that’s scheduled for five P.M. Japanese Time.
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4:07 PM ET: Meta’s inventory has rapidly reversed course: Shares at the moment are down 5.3% AH.
4:06 PM ET: Outcomes are out. Q3 income of $27.71B beats a $27.44B consensus. GAAP EPS of $1.64 misses a $1.90 consensus.
Meta guides for This autumn income of $30B-$32.5B vs. a $32.3B consensus.
Shares are up 5.8% after-hours.
4:01 PM ET: Meta closed down 5.6%. The Q3 report needs to be out shortly.
3:57 PM ET: Together with its gross sales/earnings, Meta’s full-year spending steering will get consideration, as will any feedback it shares about deliberate spending cuts. Just lately, funding agency Altimeter Capital despatched an open letter to Mark Zuckerberg calling for him to (amongst different issues) lower Meta’s headcount by no less than 20%.
3:53 PM ET: Thanks partially to Alphabet’s Q3 miss, Meta’s inventory is down 5.9% at present going into earnings. Shares are down 62% YTD and at ranges first reached in 2016.
3:52 PM ET: The FactSet consensus is for Meta to report Q3 income of $27.44B and GAAP EPS of $1.90. The This autumn income consensus stands at $32.3B.
From the appears to be like of issues, investor expectations are sometimes under these numbers, notably following Snap and Alphabet’s Q3 reviews.
3:46 PM ET: Hello, that is Eric Jhonsa. I will be live-blogging Meta’s earnings report and name.
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