Real Money’s Eric Jhonsa covers Facebook-parent Meta’s second-quarter earnings report and conference call with management.
A day after Alphabet (GOOGL) – Get Alphabet Inc. Report and Microsoft (MSFT) – Get Microsoft Corporation Report delivered better-than-feared numbers, investors are hoping Meta Platforms (MVRS) – Get Meta Report does the same.
Among analysts polled by FactSet, the consensus is for the Facebook, Instagram and WhatsApp parent to report Q2 revenue of $28.91 billion (down 1% annually) and GAAP EPS of $2.54 (down 30%). If Meta’s revenue proves to be in-line with consensus or below, it would be down annually for the first time in Meta’s history as a publicly-traded company.
For Q3 – Meta has been providing quarterly sales guidance in its reports – the revenue consensus stands at $30.36 billion (up 5%).
Eric Jhonsa, Real Money’s tech columnist, is live-blogging Meta’s report, along with an earnings call scheduled for 5 P.M. Eastern Time.
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3:49 PM ET: The FactSet consensus is for Meta to report Q2 revenue of $28.91B and GAAP EPS of $2.54, and to post Q3 revenue of $30.36B (the Q2 report should feature Q3 sales guidance). But given Snap/Twitter’s Q2 reports and other data pointing to a weak environment for social media ad spend, informal expectations might be lower.
3:47 PM ET: Hi, this is Eric Jhonsa. I’ll be live-blogging Meta’s Q2 report (expected shortly after the close) and earnings call.
