Meta Shares Slip On Cautious Guidance — But Fund Manager Explains Why Facebook Parent's Q3 Was Better Than Tesla's
Portfolio Pulse from Shanthi Rexaline
Meta Platforms, Inc. (NASDAQ:META) shares initially rose after Q3 results but fell after the earnings call due to cautious guidance. Meta CFO Susan Li's comments on geopolitical situation impacting ad business in Q4 led to a drop in stock price. Future Fund Managing Partner Gary Black believes the decline is unwarranted given Meta's Q4 revenue guidance. Black also compared Meta's Q3 results to Tesla's (NASDAQ:TSLA), rating Meta's as better.
October 26, 2023 | 6:41 am
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NEGATIVE IMPACT
Meta's shares fell after Q3 earnings call due to cautious guidance on Q4 revenues.
Meta's shares fell due to cautious guidance on Q4 revenues. This indicates investor concern over potential impact of geopolitical situation on Meta's ad business.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla's shares also fell after its Q3 results, with concerns over potential margin erosion and another earnings miss.
Tesla's shares fell due to concerns over potential margin erosion and another earnings miss. This indicates investor concern over Tesla's future profitability.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80