PREVIEW: Meta Platforms falls with broader market; results due after the bell

Shares of Meta Platforms META.O are down 2.8% in afternoon trading, with broader mkt also selling off. Meta is due to report results including higher yr-over-yr qtrly rev after the closing bell

Analysts expect Q1 rev of $41.39 bln vs $36.46 bln in the yr-ago period and they expect EPS of $5.27/shr vs $4.71 a yr ago, according to LSEG

Daniel Morgan, senior portfolio manager at Synovus Trust Company, said in a note that investors want to know how tariffs could impact digital advertising spend rates, and they will also pay attention to any comments on capital spending

Meta on Tuesday announced an application programming interface in a bid to woo businesses to more easily build AI products using its Llama artificial-intelligence models

Also on Tuesday, Snap SNAP.N said it will not issue a second-quarter financial forecast, citing economic uncertainty

Analyst recommendations on META include 65 "strong buy" or "buy" ratings, six "hold" ratings and two "sell" ratings

The median 12-mo PT is $695; the stock was last at $539

Including the session move, META is down 7.6% YTD compared with a roughly 10% decline in the Nasdaq .IXIC