Meta Platforms also reported better-than-expected earnings, with $6.03 per share against the $5.25 forecast, and revenue of $40.59 billion, slightly ahead of the $40.29 billion consensus. However, the company’s daily active user base fell short of targets, reaching 3.29 billion, under analyst estimates of 3.31 billion, raising investor concerns.
Meta’s fourth-quarter guidance, set between $45 billion and $48 billion, is optimistic and higher than the $46.3 billion analyst consensus, signaling the company’s confidence in its ad-driven business model. However, the company’s increasing expenses, projected at $96 billion to $98 billion for fiscal 2024, may temper investor sentiment, as it reflects Meta’s heavy investment in the metaverse and Reality Labs, both of which have yet to prove profitable.
