Company news: Meta Platforms (META) quarterly results solidly beat analysts’ expectations

Meta Platforms (META) reported Q2 FY2024 earnings of $5.16 per share (versus $2.98 per share in Q2 FY2023), strongly beating analysts’ consensus estimate of $4.72 per share.

The company’s quarterly revenues amounted to $39.071 bln (+22.1% y/y), strongly beating analysts’ consensus estimate of $38.261 bln.

The company also issued in-line revenue guidance for Q3 Fy2024 of $38.5-$41.0 bln versus analysts’ consensus estimate of $39.1 bln.

META rose to $509.00 (+7.20%) in pre-market trading.