Meta Platforms, Inc. META will release its third-quarter earnings results after the closing bell on Wednesday.
If 2023 was the Year of Artificial Intelligence, will 2024 be remembered as the Year of the Stock Split?
A Meta Platforms official on Wednesday criticised Malaysia's plan to require social media platforms to apply for a regulatory licence by January, saying the proposal lacked clear guidelines and gave social companies little time to comply, risking digital innovation and growth in the country.
Meta Platforms Inc META will report third-quarter earnings on Wednesday, Oct. 30. Wall Street expects $5.24 in EPS and $40.27 billion in revenues as the company reports after market hours.
Meta stock has rocketed up more than 500% from its late 2022 nadir but faces a test of its strength Wednesday with q3 due.
META's third-quarter 2024 results are expected to reflect the benefits of improving advertising business and improving user engagement.
Meta reports earnings on Wednesday afternoon.
Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) is reportedly working on its own search engine, a move that analysts at Bank of America see aligning with the company's strategic priority to reduce dependence on its tech peers. According to a report by The Information, Meta is developing a search engine to provide conversational answers about current events in its Meta AI chatbot in a bid to reduce its reliance on Google Search and Microsoft Bing, which current provide information for Meta AI.
All clues point to this magnificent company announcing its first-ever stock split.
I am upgrading Meta to a 'Buy' rating with a fair value of $620 per share due to Llama AI models' transformative potential. Meta's Llama 3.1 405B model is competitive with leading AI models, enhancing Meta's advertising and social media platforms. Meta's partnerships with major hyperscalers and the introduction of lightweight Llama models for smartphones could revolutionize AI adoption and monetization.
Meta Platforms, Inc.'s shares have surged 24.55% due to strong advertising performance driven by AI, with Q2 revenue up 22% year-over-year from improved ad impressions and pricing. Despite $55 billion in lifetime losses from Reality Labs, Meta's Ray-Ban smart glasses could revolutionize user interaction and drive long-term growth, akin to the iPhone's impact. Meta's new AI-enhanced Ray-Ban glasses offer hands-free content capture and integration with apps like Spotify, potentially boosting user engagement and advertising revenue.
Meta's Q3 earnings are very likely to beat market consensus again due to recent developments on the AI front. In particular, advancements it made in the development of self-taught evaluator AI models have overarching implications. They could further reduce human involvement, enhance productivity, and boost margins.