Meta Platforms Inc reports results for the quarter ended June 30 - Earnings Summary

• Meta Platforms Inc META.OQ reported quarterly adjusted earnings of $7.14​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of $5.16. The mean expectation of forty five analysts for the quarter was for earnings of $5.92 per share. Wall Street expected results to range from $5.14 to $7.91 per share.

• Revenue rose 21.6% to $47.52 billion from a year ago; analysts expected $44.80 billion.

• Meta Platforms Inc's reported EPS for the quarter was $7.14​.

• The company reported quarterly net income of $18.34 billion.

• Meta Platforms Inc shares had fallen by 5.2% this quarter and gained 19.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 3.6% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 63 "strong buy" or "buy," 7 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the online services peer group is also "buy"

• Wall Street's median 12-month price target for Meta Platforms Inc is $750.00, about 6.7% above its last closing price of $700.00

This summary was machine generated from LSEG data July 30 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)