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Live updates: Meta to report quarterly earnings today after market close

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Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event on September 27, 2023

Josh Edelson/AFP via Getty Images

  • Meta reports first-quarter earnings on Tuesday.
  • The company recently released its latest AI chatbot, Llama 3.
  • Meta's stock is up roughly 40% in 2024.

Meta will report first-quarter earnings on Wednesday after the closing bell.

The company has had a strong start to 2024, riding the wave of interest in artificial intelligence. JPMorgan says that even though AI dominates investor chatter, the buzz is shifting towards recognizing Meta's early wins in coding efficiencies and cost savings.

Meta's stock was up 40% year-to-date through Tuesday's close, handily outpacing the the S&P 500's 6% gain.

Meta's consensus first-quarter revenue estimate is $36.12 billion.

1st quarter

  • Revenue estimate: $36.12 billion

    • Advertising rev. estimate: $35.57 billion

    • Family of Apps revenue estimate: $35.52 billion

    • Reality Labs revenue estimate: $494.1 million

    • Other revenue estimate: $286.4 million

  • Adjusted operating income estimate: $13.45 billion

    • Family of Apps operating income estimate: $17.76 billion

    • Reality Labs operating loss estimate: $4.52 billion

  • Operating margin estimate: 37.2%

  • EPS estimate: $4.30

  • Facebook daily active users estimate: 2.11 billion

  • Facebook monthly active users estimate: 3.08 billion

  • Ad impressions estimate: +17.1%

    • Average price per ad estimate: +5.85%

  • Average Family service users per day estimate: 3.16 billion

  • Average Family service users per month estimate: 3.97 billion

2nd quarter

  • Revenue estimate: $38.24 billion

Full-year 2024

  • Total expenses estimate: $96.87 billion

  • Capital expenditure estimate: $34.5 billion

Read the original article on Business Insider

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