{"id":61246,"date":"2024-08-01T14:11:00","date_gmt":"2024-08-01T14:11:00","guid":{"rendered":"https:\/\/efimarkets.com\/blog\/?p=61246"},"modified":"2024-08-01T14:15:51","modified_gmt":"2024-08-01T14:15:51","slug":"meta-stock-soars-on-strong-q2-results-and-upbeat-guidance","status":"publish","type":"post","link":"https:\/\/bhimmarkets.com\/blog\/meta-stock-soars-on-strong-q2-results-and-upbeat-guidance\/","title":{"rendered":"Meta stock soars on strong Q2 results and upbeat guidance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"61246\" class=\"elementor elementor-61246\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b0d92eb e-con-boxed e-flex e-con\" data-id=\"b0d92eb\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1975b5d elementor-widget elementor-widget-image\" data-id=\"1975b5d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.investing.com\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"539\" src=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/08\/WhatsApp-Image-2022-11-07-at-13.57.23-1024x539.jpeg\" class=\"attachment-large size-large wp-image-61247\" alt=\"Meta stock soars\" srcset=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/08\/WhatsApp-Image-2022-11-07-at-13.57.23-1024x539.jpeg 1024w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/08\/WhatsApp-Image-2022-11-07-at-13.57.23-300x158.jpeg 300w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/08\/WhatsApp-Image-2022-11-07-at-13.57.23-768x404.jpeg 768w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/08\/WhatsApp-Image-2022-11-07-at-13.57.23.jpeg 1080w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0ed2e07 e-con-boxed e-flex e-con\" data-id=\"0ed2e07\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6fc2f53 elementor-widget elementor-widget-text-editor\" data-id=\"6fc2f53\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><a href=\"https:\/\/in.tradingview.com\/symbols\/NASDAQ-META\/\"><span style=\"color: #000000; font-family: var( --e-global-typography-text-font-family ), Sans-serif; font-weight: var( --e-global-typography-text-font-weight ); text-align: var(--text-align); background-color: var(--ast-global-color-5); font-size: 1rem;\">Meta stock soars<\/span><\/a><span style=\"color: #000000;\">\u00a0on Wednesday issued better-than-expected guidance for the current quarter after reporting second-quarter results that beat analyst estimates on both the top and bottom lines.<\/span><\/p><h3><span style=\"color: #000000;\">Stock Performance and Earnings<\/span><\/h3><p><span style=\"color: #000000;\">Meta Platforms Inc (NASDAQ) saw its stock rise around 7% in premarket trading on Thursday. For the three months ended June 30, the company reported earnings of $5.16 per share on revenue of $39.07 billion, surpassing estimates of $4.70 per share and $38.26 billion, respectively.<\/span><\/p><h3>Meta stock soars<\/h3><p><span style=\"color: #000000;\">The company&#8217;s Daily Active People (DAP) reached 3.27 billion, up 7% in Q2 from the same period last year. Capital expenditures (capex) for Q2 were $8.47 billion, down from $6.72 billion in Q1.<\/span><\/p><h3><span style=\"color: #000000;\">Q3 Revenue Outlook<\/span><\/h3><p><span style=\"color: #000000;\">Looking ahead to Q3, Meta expects total revenue to be between $38.5 billion and $41 billion, with a midpoint of $39.75 billion, exceeding Wall Street estimates of $39.09 billion. The company also raised the lower range of its annual capital spending outlook to $37 billion to $40 billion from the previous $35 billion to $40 billion. However, the total expense guidance for the full year remains unchanged at $96 billion to $99 billion.<\/span><\/p><h3><span style=\"color: #000000;\">Infrastructure and Expense Growth<\/span><\/h3><p><span style=\"color: #000000;\">Meta noted that infrastructure costs will be a significant driver of expense growth next year as they recognize depreciation and operating costs associated with their expanded infrastructure footprint.<\/span><\/p><h3><span style=\"color: #000000;\">Analyst Reactions<\/span><\/h3><p><span style=\"color: #000000;\">KeyBanc Capital Markets reiterated an Overweight rating on META stock and raised their price target from $540 to $560. &#8220;We believe Meta&#8217;s 2Q print reinforced that the core business is seeing AI returns today, while AI assistants and agents will create returns over the medium term,&#8221; they said. They also highlighted that AI efficiencies for merchants could drive further share gains and support consistent 10%+ annual advertising revenue growth.<\/span><\/p><p><span style=\"color: #000000;\">Similarly, Stifel analysts increased their target price on Meta shares from $550 to $590, noting that the elevated lower end of the capex outlook was the &#8220;only real wrinkle&#8221; from the report. &#8220;It&#8217;s hard to deny the increase in capex is material, but we believe Meta&#8217;s AI initiatives are paying off already, with better engagement and advertiser tools driving incremental budgets.<\/span><\/p><h3>Trade Anytime, Anywhere with EFI Markets<\/h3><p><span style=\"color: #000000;\">EFI Markets is a trusted <a href=\"https:\/\/efimarkets.com\/stocks\">stock market trading platform<\/a>, making trading easy with its efficient interface and a variety of tools and features.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Meta stock soars\u00a0on Wednesday issued better-than-expected guidance for the current quarter after reporting second-quarter results that beat analyst estimates on both the top and bottom lines. Stock Performance and Earnings Meta Platforms Inc (NASDAQ) saw its stock rise around 7% in premarket trading on Thursday. For the three months ended June 30, the company reported &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/bhimmarkets.com\/blog\/meta-stock-soars-on-strong-q2-results-and-upbeat-guidance\/\"> <span class=\"screen-reader-text\">Meta stock soars on strong Q2 results and upbeat guidance<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":61247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[12,3],"tags":[15,14,5,34,43],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Meta stock soars on strong Q2 results and upbeat guidance -<\/title>\n<meta name=\"description\" content=\"Meta stock soars as Q2 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