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Is Meta Platforms (META) A "Buy" Ahead of Q2 Earnings Announcement?
Facebook-parent Meta Platforms (META - Free Report) is set to report second-quarter earnings results on Wednesday after the bell. Connecting people through its popular suite of apps including Instagram, Messenger, and WhatsApp, Meta Platforms is currently a Zacks Rank #3 (Hold) stock.
The world’s largest social media platform, Meta Platforms has surpassed the earnings mark in each of the last four quarters. But with the broader communication services sector showing weakness lately, is META stock a buy?
Meta Platforms is expected to post a profit of $4.69/share, reflecting growth of 45.2% versus the same quarter last year. Estimates for the quarter have inched up by 0.43% over the past 60 days. Revenues are projected to have risen 19.6% to $38.27 billion.
Meta is considered to have pioneered the concept of social networking. Instagram in particular has emerged as an important cash cow supported by AI.
The company has delivered a trailing four-quarter average earnings beat of 13.3%. Our proprietary Zacks Model does not conclusively predict another beat for the upcoming announcement.