Middle East Unrest Overshadowed Meta's And Snap's Strong Quarterly Results
Portfolio Pulse from Upwallstreet
Meta Platforms and Snap Inc reported strong quarterly results, with Meta's revenue growing at the fastest rate since 2021 and Snap returning to revenue growth. However, both companies warned about the impact of the Middle East conflict on their ad revenues. Meta's Q4 revenue guidance was widened due to ad softening, while Snap did not provide formal guidance due to some advertisers pausing their campaigns.
October 27, 2023 | 1:27 pm
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NEUTRAL IMPACT
Meta reported strong Q3 results with record profits and sales. However, the company warned about the impact of the Middle East conflict on its ad revenues and widened its Q4 revenue guidance.
Despite strong Q3 results, Meta's stock price may be impacted by the company's warning about the potential impact of the Middle East conflict on its ad revenues. The company's decision to widen its Q4 revenue guidance also indicates uncertainty about future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Snap returned to revenue growth in Q3, but did not provide formal Q4 guidance due to the impact of the Middle East conflict on its ad revenues.
Snap's return to revenue growth in Q3 is a positive sign, but the company's decision not to provide formal Q4 guidance due to the Middle East conflict indicates uncertainty about future performance. This could impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100