by winston » Thu Jul 27, 2023 8:16 am
not vested
Meta Platforms reported earnings and revenue for the second quarter that topped analysts’ estimates and issued a better-than-expected forecast for the current period, reflecting a rebound in the digital advertising market.
The stock rose about 5% in extended trading, and is up ~160% so far this year.
Revenue (US$32bn vs est. US$31.1bn) and earnings (US$2.98 vs est. US$2.91) both grew by double digits YoY for the first time since 3Q21 as the company saw stronger engagement on its apps, and better cost savings taking effect.
Company guidance for 3Q23e was also positive, indicating a continued reacceleration in revenue growth to 15% (taking the midpoint of its guidance range) as the digital advertising industry continues its recovery.
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"