Meta Platforms shares surged in after-hours trading after it blew out second-quarter earnings expectations. Along with Alphabet’s second-quarter earnings report last week, Meta’s release reveals a lot of strength in digital advertising, at least for these two giants. Meta’s important metrics of daily users, ad impressions and price-per-ad all exceeded the Wall Street consensus. Meta also provided strong revenue guidance for the third quarter of $49 billion at the midpoint, exceeding the average analyst projection of $46 billion, and up 21% on the year. Shares jumped ~10% in late trading
- 2Q revenue of $US47.5 bn was +22% YoY, beating estimates of $US44.8bn.
- 2Q EPS of $US7.14, up from $5.16 last year, beat estimates of $US5.88.
- Capex for the year is expected to be $US66-72bn, a slight lift.
This is another great result for META, which suggests advertising and the global economy are still in good shape.
- We can see META punching to fresh highs and testing $US800 through 2025/6.
MM is bullish towards META
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