2 months ago
Key Takeaways
- Meta is group to study second-quarter net aft nan closing doorbell connected Wednesday.
- Analysts expect nan institution to study year-over-year gross and net growth. Investors will beryllium watching for spot successful Meta's advertizing business.
- Meta will apt talk nan company's AI opportunity aft launching a caller unfastened AI model, Llama 3.1.
Meta Platforms (META) is group to study second-quarter net aft nan closing doorbell connected Wednesday, pinch investors watching for advertizing gross spot and updates on artificial intelligence (AI) plans aft its astir caller AI exemplary announcement.
The Facebook and Instagram genitor is expected to study gross of $38.35 billion, according to estimates compiled by Visible Alpha, astir a 20% emergence complete nan year-ago period. Net income is projected to beryllium $12.31 billion, aliases $4.71 per share, a 58% jump from nan year-ago quarter.
| Analyst Estimates for Q2 2024 | Q1 2024 | Q2 2023 | |
| Revenue | $38.35 billion | $36.46 billion | $32 billion |
| Diluted Earnings Per Share | $4.71 | $4.71 | $2.98 |
| Net Income | $12.31 billion | $12.37 billion | $7.79 billion |
Key Metrics: Advertising Revenue Growth
Meta will study its second-quarter advertisement gross pinch Citi analysts expecting nan fig to turn 20.5% from nan year-ago play to $37.95 billion, citing a strengthening advertisement environment, take of Instagram Reels, and caller products for advertisers.
Most advertisers scheme to walk much aliases support spending connected Meta platforms, a study conducted by Wedbush analysts found, which could lend to beardown second-quarter results and group nan institution connected a affirmative trajectory for nan 2nd half of nan year. The tech elephantine earlier this twelvemonth expanded nan AI devices it offers to advertisers.
Business Spotlight: AI Potential After Llama 3.1 Launch
Meta this period unveiled its Llama 3.1 open-source AI model. J.P. Morgan analysts said nan motorboat could make Meta AI "the astir utilized AI adjunct by year-end, if not sooner."
The net study will connection Meta an opportunity to guarantee investors that its increased spending to put successful AI is helping nan institution capitalize connected a maturation opportunity.
Meta shares vanished Thursday down 1.7% astatine conscionable supra $453. The banal has gained astir 28% year-to-date.
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