Meta Stock Gets Unfriended Premarket After Q3 Print: What's Going On?
Portfolio Pulse from Shanthi Rexaline
Meta Platforms, Inc. (NASDAQ:META) shares fell in premarket trading despite surpassing Q3 expectations with a revenue of $34.15 billion and earnings per share of $4.39. The drop is linked to CFO Susan Li's comments about geopolitical tensions in the Middle East affecting ad revenue. However, Future Fund's Gary Black and KeyBanc analyst Justin Patterson believe the selloff is unjustified, highlighting positive aspects such as Reels breaking even earlier than expected and AI as a growth driver.
October 26, 2023 | 10:28 am
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Meta Platforms' shares fell despite strong Q3 results. The drop is linked to concerns over geopolitical tensions affecting ad revenue, but analysts believe the selloff is unjustified.
Despite strong Q3 results, Meta Platforms' shares fell due to concerns over geopolitical tensions affecting ad revenue. However, analysts believe the selloff is unjustified, pointing out positive aspects such as Reels breaking even earlier than expected and AI as a growth driver. This suggests that the stock may recover in the short term.
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