Yahoo Finance Meta Platforms First Quarter 2024 Earnings: EPS Beats Expectations
Meta Platforms (NASDAQ:META) First Quarter 2024 Results
Key Financial Results
Revenue: US$36.5b (up 27% from 1Q 2023).
Net income: US$12.4b (up 117% from 1Q 2023).
Profit margin: 34% (up from 20% in 1Q 2023). The increase in margin was driven by higher revenue.
EPS: US$4.86 (up from US$2.21 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Meta Platforms EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.9%.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Interactive Media and Services industry in the US.
Performance of the American Interactive Media and Services industry.
The company's shares are down 12% from a week ago.
Risk Analysis
It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Meta Platforms, and understanding it should be part of your investment process.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
