Meta Platforms Q3 Earnings Highlights: Revenue Up 23% YoY, New Guidance, Facebook User Growth And More
Portfolio Pulse from Chris Katje
Meta Platforms (NASDAQ:META) reported Q3 revenue of $34.15 billion, up 23% YoY, beating the Street estimate of $33.56 billion. Earnings per share were $4.39, up 168%. The company's ad impressions were up 31% YoY, while the average price per ad was down 6% YoY. The company also shared updates on its restructuring efforts and provided guidance for full-year expenses and capital expenditures for 2023 and 2024.
October 25, 2023 | 8:41 pm
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Meta Platforms reported strong Q3 results with revenue and EPS beating estimates. The company's ad impressions increased, but the average price per ad decreased. The company also provided guidance for future expenses and capital expenditures.
The strong Q3 results and the beat on both revenue and EPS are positive for the company. However, the decrease in the average price per ad could be a concern. The guidance provided by the company for future expenses and capital expenditures gives investors a clearer picture of the company's future plans, which could impact the stock positively.
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