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Meta reports upbeat guidance after Q3 earnings tops estimates as margins jump

Invesitng.com -- Meta Platforms reported Wednesday third-quarter results that topped Wall Street expectations and stronger guidance for the current quarter as cost cuts boosted margins. 

Meta Platforms Inc (NASDAQ:META) rose more than 4% in afterhours trading following the report. 

Meta reported adjusted EPS of $4.39 on revenue of $34.15 billion. Analysts polled by Investing.com anticipated EPS of $3.64 on revenue of $33.57B.

Total costs and expenses were $20.40 billion, a decrease of 7% year-over-year, boosting operating margin to 40% in Q3 from 20% a year earlier. 

Advertising revenue jumped 23% to $33.64B from $27.24B.

Facebook daily active users, or DAUs, rose 7% to 3.14B, while monthly active people, or MAUs, rose 3% to 3.05B.

Looking ahead, the company said it expects third quarter revenue to be in the range of $36.5B to $40B, beating estimates for $38.84B.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.