Facebook Parent Company to Report Earnings at Close of Trading
Meta Platforms (META), which owns Facebook, will be releasing its revenue figures for the first fiscal quarter of 2024 once trading ends for Wednesday.
The stock price for Meta is down 1.24% ahead of the earnings figures. While this may indicate a lack of faith in what Meta will reveal in its report, the company is expected to show one of its best quarter-to-quarter sales increases.
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Meta has been growing throughout the year, with an increase of 42% since the start of 2024. That incredible growth makes industry experts anticipate even more growth throughout the rest of the year, and it sets up Meta nicely as a sound investment for traders who want a sure thing.
Last year, Meta’s stock just about tripled in value, and there is little reason to expect that Meta will fall flat this quarter when it has had such a consistent track record of late.
What Might Hold Meta Back
There are two major concerns for investors moving forward. Even if they do not yet know what Meta will reveal in its earnings report, they are worried about inflation. As the inflation rate increases and is showing little sign of diminishing, it places all companies in the unenviable position of having to perform better than ever to reassure their shareholders.
The second problem that Meta faces is in the area of spending. There have been cries for the shareholders over the past few years to pour less money into unprofitable projects. Facebook CEO Mark Zuckerberg has promised to eliminate unnecessary programs and focus more on projects that are reliable and trustworthy for future growth.
We will see if those promises have paid off and if the company is actually turning a sizable profit compared to the last quarter’s results. As Facebook doubles down on AI investments, the company might be future-proofing itself or might be putting its finances into a risky endeavor that may not pan out for it.
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