{"id":42569,"date":"2023-07-31T09:59:30","date_gmt":"2023-07-31T13:59:30","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/meta-platforms-stock-topped-the-consensus-in-q2-whats-next\/"},"modified":"2023-07-31T09:59:32","modified_gmt":"2023-07-31T13:59:32","slug":"meta-platforms-stock-topped-the-consensus-in-q2-whats-next","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42569","title":{"rendered":"Meta Platforms Stock Topped The Consensus In Q2, What\u2019s Next?"},"content":{"rendered":"
\n

Meta Platforms\u2019 stock (NASDAQ
\n NDAQ
\n <\/fbs-ticker>: META) has rallied 159% YTD, while the S&P500 is up only 18% over the same period. The stock is currently trading around $312 per share, which is slightly below its fair value of $310 \u2013 Trefis\u2019 estimate for Meta Platforms\u2019 valuation<\/strong>. <\/strong>The company posted better-than-expected results in the second quarter of 2023, with revenues increasing 11% y-o-y to $32 billion. Further, daily active users (DAUs) grew 5% y-o-y to 2.06 billion for June 2023, followed by a 34% y-o-y improvement in the ad impressions across its Family of Apps. However, the average price-per-ad declined by 16% y-o-y in the quarter. On the cost front, the total expenses increased 10% y-o-y, primarily due to higher legal costs and restructuring charges. Overall, the net income was $7.8 billion \u2013 up 16% y-o-y.<\/p>\n

The top line grew 7% y-o-y to $60.6 billion in the first half of FY2023. It benefited from higher DAUs and ad impressions, partially offset by lower revenue-per-ad. Notably, digital ad spending was down over the recent quarters due to tough macroeconomic conditions. Further, the costs and expenses witnessed an unfavorable increase over the first two quarters, resulting in a 5% drop in the net income to $13.5 billion.<\/p>\n

Moving forward, we expect the revenue growth rate to improve over the subsequent quarters, driven by a recovery in advertising revenues. Notably, META expects the Q3 revenues to remain between $32-34.5 billion. Altogether, we estimate Meta Platforms\u2019 revenues<\/strong> to touch $126.96 billion in FY2023. Additionally, the adjusted net income is likely to remain around $30.3 billion in the year. This coupled with an annual GAAP EPS of $11.56 and a P\/E multiple of just below 27x will lead to a valuation of $310.<\/p>\n

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Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Meta Platforms\u2019 stock (NASDAQ NDAQ : META) has rallied 159% YTD, while the S&P500 is up only 18% over the same period. The stock is currently trading around $312 per share, which is slightly below its fair value of $310 \u2013 Trefis\u2019 estimate for Meta Platforms\u2019 valuation. The company posted better-than-expected results in the second […]<\/p>\n","protected":false},"author":1,"featured_media":42570,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-42569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nMeta Platforms Stock Topped The Consensus In Q2, What\u2019s Next? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Meta Platforms\u2019 stock (NASDAQ NDAQ : META) has rallied 159% YTD, while the S&P500 is up only 18% over the same period. 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