Monday, March 4, 2024

Meta shares are up 19% after the number of Facebook users increased

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“Meta Platforms” surprised the Wall Street market with higher-than-expected profits and Facebook’s return to record user growth, but meta’s expectations for the current quarter were conservative. Its shares rose 19% in the after-trade on Wednesday.

According to Refinitiv’s I / B / E / S data, Meta’s earnings are higher than Wall Street targets of $ 2.72 per share, compared to the average analyst estimate of $ 2.56. But Meta’s record of slower revenue growth over a decade was a revenue cloud that surpassed expectations.

According to Refinitiv’s I / B / E / S, Facebook’s daily active users are the main activity for advertisers. The number of active users per month was 2.94 billion, 30 million less than the Wall Street estimate.

The meta has lost half of its value since the beginning of this year after a dark earnings report for February, when the number of Facebook’s daily active users fell for the first time, while the company attributed this to factors including Apple’s privacy changes. , And increased competition from sites such as the Tick Tock application owned by Fight Dance.

According to Refinitiv’s I / B / E / S data, total revenue from advertising sales rose 7% to $ 27.91 billion in the first quarter.

Meta expects revenue for the second quarter to be $ 28 to $ 30 billion, while analysts expect revenue for the current quarter to reach $ 30.63 billion on average. The agency said its forecast reflected factors including the war in Ukraine. It also said it was monitoring the potential impact of regulatory moves in Europe.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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