Meta Platforms (META) reported Q2 earnings of $2.46 per share, missing the Zacks Consensus Estimate of $2.50. This marks a decrease from $3.61 per share in the same quarter last year, representing a -1.60% earnings surprise. The company generated revenues of $28.82 billion, slightly exceeding expectations by 0.44%, but down from $29.08 billion a year ago.
Since the beginning of 2022, Meta’s shares have fallen approximately 52.7%, compared to a 17.7% decline in the S&P 500. Currently, Meta holds a Zacks Rank of #4 (Sell), indicating expected underperformance in the near future.
Looking ahead, the consensus EPS estimate for the next quarter is $2.57 with anticipated revenues of $30.33 billion. For the current fiscal year, the consensus EPS estimate stands at $11.22 on $122.68 billion in revenues.
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