Meta Platforms (FB); Former Facebook

[winston]

not vested

Meta rebound

Meta Platforms (META) jumped 8% AH on Wednesday after posting Q2 earnings that easily beat expectations.

The report echoed an online advertising recovery signaled by rival Alphabet (GOOG, GOOGL) and Meta guided for Q3 revenue above estimates.

As with other tech companies, Meta's earnings call focused largely on AI, and while CEO Mark Zuckerberg previously said 2023 would be a "year of efficiency," overall expenses in Q2 grew 10%.

Source: Seeking Alpha

[winston]

not vested

Meta Posts Best Quarterly Sales Growth Since Late 2021

by Liz Moyer


Meta Platforms, parent of social media apps Facebook, Instagram, and Threads, reported its highest quarterly sales growth in two years, boosted by a rebound in digital advertising.

It signaled spending would pick up in 2024 as it expands in generative artificial intelligence software.

Both second-quarter revenue and profit beat expectations.

Revenue rose 11% from the same time last year, to $32 billion—the biggest quarterly rise since the fourth quarter 2021.

Daily active people on Meta rose 7% from last year, to 3.07 billion.

Facebook daily active users were 2.06 billion, up 5%, and Facebook’s monthly active users rose 3%, to 3.03 billion.

Ad impressions delivered across the company’s “family of apps” were up 34% from one year ago. Meta’s ad revenue rose nearly 12%.

CEO Mark Zuckerberg cited excitement about the new microblogging site Threads, which is a Twitter competitor, Meta’s generative AI model Llama 2, and the coming launch of the Quest 3 virtual reality headset.

On Threads, he said more people than expected are returning daily.

Meta projects third-quarter revenue of $32 billion to $34.5 billion, beating consensus.

Full-year expenses are expected to be $88 billion to $91 billion after second quarter legal expenses. But 2023 capital spending is expected to be lower than previously forecast as it shifts some to next year.

What’s Next: Meta said it expects 2024 capital spending to grow as it invests in data centers and servers. Operating losses at its Reality Labs unit will increase in 2023 and “increase meaningfully” in 2024 as it develops virtual- and augmented-reality products.

Source: Barron's

[behappyalways]

Meta Jumps After Beating Estimates, Topping 3 Billion Monthly Users, Boosting Guidance
https://www.zerohedge.com/markets/meta- ... g-guidance


*META PLATFORMS 2Q REV. $32.00B, EST. $31.06B

*META PLATFORMS 2Q FACEBOOK DAILY ACTIVE USERS 2.06B, EST. 2.03B

*META PLATFORMS SEES 3Q REV. $32B TO $34.5B, EST. $31.18B
https://twitter.com/zerohedge/status/16 ... 8187220992


Meta starting to cut prices to keep volumes:

Ad impressions +34%, est +17.8%
Average price per ad -16%, est -11.2%
https://twitter.com/zerohedge/status/16 ... 8668131328


Meta plans retention 'hooks' for Threads as more than half of users leave app
https://www.reuters.com/business/media- ... 023-07-28/

[behappyalways]

As Twitter X Hits New High In Monthly Users, Zuck Admits Threads Failing In Leaked Audio
https://www.zerohedge.com/markets/zucke ... io-reveals

[winston]

not vested

Facebook
Target Price* USD 360.00
Recommendation ACCUMULATE

Meta Platforms Inc. - Spike in revenue guidance

2Q23 results were in line with expectations. 1H23 revenue/PATMI at 47%/43% of our FY23e forecasts.

Double-digit growth in advertising after 5 quarters, outbound China spending and increasing Reels monetisation the main drivers.

Guided 3Q23e revenue growth of 20% YoY.

~ US$40bn in accumulated losses from Reality Labs and no timeline to profitability. A 12% drag on operating margin.

We increase our FY23e revenue/PATMI estimates by 3%/2% to reflect a slightly faster recovery in advertising, and improvements in Reels monetisation.

Additionally, FY23e CAPEX is cut by 10% due to delays in projects and equipment deliveries.

Our WACC assumption of 7.1% remains unchanged, and our terminal growth rate assumption is increased to 4.5% (from 3.5%) due to higher ad monetisation rates.

We upgrade to ACCUMULATE, with a raised DCF target price of US$360.00 (prev. US$235.00).

Source: Phillips

https://www.poems.com.sg/stock-research/META/

[behappyalways]

Zuckerberg's "Twitter Killer" App Struggles For Traction
https://www.zerohedge.com/technology/zu ... s-traction

[behappyalways]

Meta Is Building An AI Model To Rival OpenAI's Most Powerful System
https://www.zerohedge.com/technology/me ... ful-system

[behappyalways]

$META is aggressively shrinking its office space as its cost cutting endeavor continues
https://twitter.com/Mayhem4Markets/stat ... 8086491555

[behappyalways]

Meta announces AI chatbots with 'personality' - BBC News
https://m.youtube.com/watch?v=jY1fNqQyZms

[behappyalways]

VR Fail? Meta Will Lay Off Employees In Metaverse Unit On Wednesday
https://www.zerohedge.com/markets/vr-fa ... -wednesday