Meta stock

2022 - 7 - 27

Post cover — Image courtesy of "Barron's"

Meta Stock Slides on Disappointing Results and a Weak Forecast (Barron's)

Meta Platforms shares were sliding in late trading Wednesday after the social media giant reported disappointing second-quarter results, and a third-quarter ...

Meta reports earnings, revenue miss and forecasts second straight ... (CNBC)

Meta's second-quarter earnings report comes after a 50% plunge in the company's stock price this year.

Meta is promoting Susan Li, the company's current vice president of finance, to be CFO. Those costs jumped 10% year-over-year to $3.6 billion in the second quarter. A hefty amount of spending is going into Meta's Reality Labs unit, which is responsible for developing the metaverse and related virtual reality and augmented reality technologies. Earlier this week, Meta raised the price of its Quest 2 VR headset by $100, citing rising production and shipping costs. Meta said that its headcount increased 32% from a year earlier to 83,553. Revenue in the second quarter fell almost 1% from a year earlier. The earnings call was the last for Sheryl Sandberg, Meta's operating chief, who announced in June that she's leaving the company after 14 years. However, despite Facebook's investment in Reels, the product doesn't generate revenue as efficiently as Instagram Stories and the main news feed. "These continue to be turbulent times for the global economy," Sandberg said. Facebook's troubling results follow a trend started last week by rivals Snap and reported disappointing second-quarter numbers, and executives cited economic and mobile platform challenges that have permeated the online ad market. That unit has been hurt by Apple's iOS privacy update last year, limiting Meta's ability to track users, and by a weakening economy that's led some companies to slash their ad budgets. The shares dropped 3.8% in extended trading.

Meta Falls as Sales Miss Estimates in First-Ever Quarterly Drop (Bloomberg)

Meta revenue slipped to $28.8 billion in the second quarter, missing the $28.9 billion average analyst estimate. The company's forecast for the current quarter ...

The company’s forecast for the current period also fell short. Shares dropped more than 4% in late trading. Meta Platforms Inc., the social media giant that includes Facebook and Instagram, reported its first-ever quarterly sales decline, citing advertisers’ shrinking budgets.

Meta Stock Gets Halo Lift Ahead of Key Earnings Report (Schaeffers Research)

With tech stocks on the rise today, thanks to post-earnings pops from the likes of Microsoft (MSFT) and Alphabet (GOOGL), Facebook parent Meta Platforms Inc ...

On the charts, the security's more than 50% year-to-date drop is staggering compared to many of its sector peers. Plus, the 12-month consensus price target of $276.41 is a 65.8% premium to current levels. Of the 29 in coverage, 21 call the equity a "buy" or better. META was last seen up 4.8% at $166.76, just ahead of the Big Tech firm's own earnings report, which is due out after the close this evening. A closer look shows a rocky couple of years for META, as far as earnings go, with just three of its past eight next-day moves finishing positive. With tech stocks on the rise today, thanks to post-earnings pops from the likes of Microsoft (MSFT) and Alphabet (GOOGL), Facebook parent Meta Platforms Inc (NASDAQ:META) is getting a halo lift.

Facebook Parent Meta Shares Fall After Company Warns Of 'Weak ... (Forbes)

Facebook parent Meta saw its stock plunge in after-hours trading on Wednesday following second-quarter earnings results that came in below expectations, ...

Though most analysts remain bullish about the company’s long-term growth, some remain cautious about the company’s “ ability to sustain profits” amid a challenging environment in the short-term. The company noted it faced “weak advertising demand environment” throughout the second quarter, citing the “broader macroeconomic uncertainty” as a driving factor. Meta has lost roughly half of its market value this year, with the stock down 50%, amid the wider market selloff that has hit the tech sector especially hard.

Meta Stock Tumbles After First-Ever Revenue Decline, Q2 Earnings ... (TheStreet)

Meta Platforms posted weaker-than-expected second quarter earnings, as well as its first revenue decline since going public in 2012, while taking another ...

She's continue to serve on the Meta board, she said, after departing her role in the fall, and hinted at a move in global philanthropy following her tenure at Facebook. Looking into the currently quarter, Meta said it sees revenues in the region of $26.0 billion to $28.5 billion, again falling shy of the Street consensus of around $30.3 billion. Ad impressions rose 15%, Meta said. "It was good to see positive trajectory on our engagement trends this quarter coming from products like Reels and our investments in AI," said CEO Mark Zuckerberg. "We're putting increased energy and focus around our key company priorities that unlock both near and long term opportunities for Meta and the people and businesses that use our services." Reality Labs, the division that will house the company's metaverse plans, generated revenues of $452 million, but lost another $2.8 billion for the quarter after first quarter loss of $2.9 billion. Group revenues, Meta said, fell 3% to $28.82 billion, nearly all of it coming from the new 'Family of Apps' division the company created last year, missing analysts' estimates of a $28.95 billion tally.