Meta Platforms Q1 Preview: Focus on ad sales, AI growth [Seeking Alpha]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Seeking Alpha
Wall Street expects the Menlo Park, California – based company to post Q1 EPS of $4.36, while revenue is expected to rise 26.4% to $36.22 billion. A solid beat from the Facebook-parent in February and topping revenue forecast by almost $1 billion, along with launching its first-ever dividend impressed investors, leading to the company's stock gain over 20% since its fourth quarter earnings. Overall, the stock gained 39% so far this year, compared to the 5% rise in the broader S&P500 Index. A strong rebound in user growth and ad sales during the quarter, and excitement about AI initiatives, helped Meta stock to recover from the 2022 decline. Brokerage BofA said that digital ad environment was strong in Q1 and Meta will likely to report total revenue at the upper end of its revenue guidance range and meet/beat Wall Street estimates. “We note 1Q will mark the first anniversary of the rebound in global ad demand and we don't expect to see an adverse impact from current events i
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News
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- Democratic officials criticize Meta ad policy, saying it amplifies lies about 2020 election [FOX News]FOX News
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META
Earnings
- 2/1/24 - Beat
META
Sec Filings
- 5/3/24 - Form 144
- 5/2/24 - Form 4
- 5/2/24 - Form PX14A6G
- META's page on the SEC website