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

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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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