Meta Platforms Updates FY24 Capital Expenditures From $37B-$40B To $38B-$40B
Portfolio Pulse from Benzinga Newsdesk
Meta Platforms has updated its fiscal year 2024 capital expenditures guidance from a range of $37 billion-$40 billion to $38 billion-$40 billion.
October 30, 2024 | 8:13 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Meta Platforms has increased the lower end of its FY24 capital expenditures guidance from $37 billion to $38 billion, maintaining the upper limit at $40 billion.
The update in capital expenditures suggests Meta is planning to invest more in its operations, which could be seen as a positive sign of growth and expansion. However, since the upper limit remains unchanged, the impact on stock price might be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100