Meta Platforms Q2 Earnings Highlights: Revenue And EPS Beat, Guidance Update, Lower Costs, 'Compelling' AI Opportunity
Portfolio Pulse from Chris Katje
Meta Platforms reported Q2 revenue of $32 billion, up 11% YoY, beating the Street consensus estimate of $31.12 billion. EPS was $2.98, also beating the estimate of $2.91. The company reported 3.07 billion family daily active people, up 7% YoY, and bought back $793 million in shares. Meta ended Q2 with $53.45 billion in cash and long-term debt of $18.38 billion. The company continues to invest in AI and the metaverse, and sees FY 2023 capital expenditures in a range of $27 billion to $30 billion. Q3 revenue guidance is $32 to $34.5 billion, ahead of the Street estimate of $28.29 billion.
July 26, 2023 | 8:25 pm
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Meta Platforms reported strong Q2 results, beating revenue and EPS estimates. The company's continued investment in AI and the metaverse, along with positive Q3 guidance, could drive stock performance.
Meta Platforms reported strong Q2 results, beating both revenue and EPS estimates. This positive financial performance, along with the company's continued investment in high-growth areas like AI and the metaverse, and its positive Q3 guidance, could drive investor sentiment and stock performance in the short term.
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