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Compared to Estimates, Meta Platforms (META) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2023, Meta Platforms (META - Free Report) reported revenue of $32 billion, up 11% over the same period last year. EPS came in at $3.23, compared to $2.46 in the year-ago quarter.
The reported revenue represents a surprise of +3.51% over the Zacks Consensus Estimate of $30.91 billion. With the consensus EPS estimate being $2.87, the EPS surprise was +12.54%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Meta Platforms performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Daily Active Users (DAUs) - Worldwide: 2064 million versus the seven-analyst average estimate of 2040.01 million.
Monthly active users (MAUs) - Worldwide: 3030 million compared to the 3001.5 million average estimate based on seven analysts.
Daily Active Users (DAUs) - Rest of World: 665 million compared to the 663.3 million average estimate based on five analysts.
Daily Active Users (DAUs) - Asia: 891 million versus 876.57 million estimated by five analysts on average.
Advertising Revenue- Asia: $6.44 billion compared to the $6.21 billion average estimate based on five analysts. The reported number represents a change of +10.3% year over year.
Advertising Revenue- Rest of the World: $3.66 billion versus the five-analyst average estimate of $3.49 billion. The reported number represents a year-over-year change of +15.6%.
Advertising Revenue- Europe: $7.27 billion versus the five-analyst average estimate of $6.63 billion. The reported number represents a year-over-year change of +14.3%.
Advertising Revenue- US & Canada: $14.13 billion versus the five-analyst average estimate of $13.85 billion. The reported number represents a year-over-year change of +10.5%.
Revenue- Advertising: $31.50 billion versus the eight-analyst average estimate of $30.23 billion. The reported number represents a year-over-year change of +11.9%.
Revenue- Reality Labs: $276 million compared to the $433.47 million average estimate based on eight analysts. The reported number represents a change of -38.9% year over year.
Revenue- Family of Apps (FoA): $31.72 billion compared to the $30.42 billion average estimate based on eight analysts.
Revenue- Other: $225 million compared to the $241.02 million average estimate based on seven analysts. The reported number represents a change of +3.2% year over year.
Shares of Meta Platforms have returned +2.6% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Compared to Estimates, Meta Platforms (META) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Meta Platforms (META - Free Report) reported revenue of $32 billion, up 11% over the same period last year. EPS came in at $3.23, compared to $2.46 in the year-ago quarter.
The reported revenue represents a surprise of +3.51% over the Zacks Consensus Estimate of $30.91 billion. With the consensus EPS estimate being $2.87, the EPS surprise was +12.54%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Meta Platforms performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Daily Active Users (DAUs) - Worldwide: 2064 million versus the seven-analyst average estimate of 2040.01 million.
- Monthly active users (MAUs) - Worldwide: 3030 million compared to the 3001.5 million average estimate based on seven analysts.
- Daily Active Users (DAUs) - Rest of World: 665 million compared to the 663.3 million average estimate based on five analysts.
- Daily Active Users (DAUs) - Asia: 891 million versus 876.57 million estimated by five analysts on average.
- Advertising Revenue- Asia: $6.44 billion compared to the $6.21 billion average estimate based on five analysts. The reported number represents a change of +10.3% year over year.
- Advertising Revenue- Rest of the World: $3.66 billion versus the five-analyst average estimate of $3.49 billion. The reported number represents a year-over-year change of +15.6%.
- Advertising Revenue- Europe: $7.27 billion versus the five-analyst average estimate of $6.63 billion. The reported number represents a year-over-year change of +14.3%.
- Advertising Revenue- US & Canada: $14.13 billion versus the five-analyst average estimate of $13.85 billion. The reported number represents a year-over-year change of +10.5%.
- Revenue- Advertising: $31.50 billion versus the eight-analyst average estimate of $30.23 billion. The reported number represents a year-over-year change of +11.9%.
- Revenue- Reality Labs: $276 million compared to the $433.47 million average estimate based on eight analysts. The reported number represents a change of -38.9% year over year.
- Revenue- Family of Apps (FoA): $31.72 billion compared to the $30.42 billion average estimate based on eight analysts.
- Revenue- Other: $225 million compared to the $241.02 million average estimate based on seven analysts. The reported number represents a change of +3.2% year over year.
View all Key Company Metrics for Meta Platforms here>>>Shares of Meta Platforms have returned +2.6% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.