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Meta Platforms (META) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended September 2023, Meta Platforms (META - Free Report) reported revenue of $34.15 billion, up 23.2% over the same period last year. EPS came in at $4.39, compared to $1.64 in the year-ago quarter.

The reported revenue represents a surprise of +2.07% over the Zacks Consensus Estimate of $33.45 billion. With the consensus EPS estimate being $3.62, the EPS surprise was +21.27%.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 2,085 million versus 2,079.87 million estimated by seven analysts on average.
  • Monthly active users (MAUs) - Worldwide: 3,049 million compared to the 3,044.53 million average estimate based on seven analysts.
  • Worldwide - ARPU: $11.23 compared to the $10.77 average estimate based on six analysts.
  • Daily Active Users (DAUs) - US& Canada: 203 million compared to the 201.33 million average estimate based on five analysts.
  • Advertising Revenue- US & Canada: $14.96 billion compared to the $15.24 billion average estimate based on six analysts. The reported number represents a change of +17.2% year over year.
  • Advertising Revenue- Asia-Pacific: $6.83 billion compared to the $6.82 billion average estimate based on five analysts. The reported number represents a change of +19.5% year over year.
  • Advertising Revenue- Rest of the World: $4.14 billion versus the five-analyst average estimate of $3.75 billion. The reported number represents a year-over-year change of +35.8%.
  • Advertising Revenue- Europe: $7.72 billion compared to the $7.28 billion average estimate based on five analysts. The reported number represents a change of +35.3% year over year.
  • Revenue- Reality Labs: $210 million versus $315.38 million estimated by 10 analysts on average. Compared to the year-ago quarter, this number represents a -26.3% change.
  • Revenue- Family of Apps (FoA): $33.94 billion versus $31.88 billion estimated by nine analysts on average.
  • Revenue- Advertising: $33.64 billion versus $32.86 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +23.5% change.
  • Revenue- Other: $293 million versus the eight-analyst average estimate of $228.12 million. The reported number represents a year-over-year change of +52.6%.
View all Key Company Metrics for Meta Platforms here>>>

Shares of Meta Platforms have returned +4.6% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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