Why Facebook Parent Meta's Shares Are Ripping Higher Premarket
Portfolio Pulse from Shanthi Rexaline
Shares of Meta Platforms, Inc. (NASDAQ:META) surged in premarket trading following the release of its Q2 results, which exceeded expectations. The company's revenue rose 11% to $32 billion, surpassing the $28.13 billion consensus estimate. The EPS of $2.98 also beat the $2.63 Street estimate. The company guided to Q3 revenue of $32 billion - $34.5 billion, higher than the consensus estimate of $28.29 billion. Several analysts have raised the price target for the stock.
July 27, 2023 | 11:18 am
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Meta Platforms' Q2 results exceeded expectations, leading to a surge in its stock price and several analysts raising their price targets.
Meta Platforms' Q2 results exceeded expectations, with revenue and EPS both beating estimates. This positive news led to a surge in the company's stock price in premarket trading and prompted several analysts to raise their price targets for the stock, indicating a positive short-term impact.
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