"When the company reported Q2 earnings on July 30, it announced EPS of $7.14 versus an expected $5.92 and revenue of $47.52 billion versus $44.80 expected. The company's Q2 ad revenue was $46.56 billion, beating Wall Street's forecast of $43.97 billion. Recently, the Mark Zuckerberg-led tech stock has seen a flurry of analyst upgrades. On Aug. 1, Barclays raised its price target to $810 from $640."
"This year, META announced - alongside authorizing a $50 billion stock buyback - that shares of META would begin paying a dividend. And while its current yield of 0.27% may not seem like much, at its current price, that equates to 53 cents per share quarterly, or $2.12 per share annualized. As the dominant player in the social media landscape, Meta Platforms is now branching out more broadly into tech, and specifically, the artificial intelligence (AI) space."
Shares of Meta Platforms slipped 2.15% over the past five trading sessions after a prior 0.76% gain, leaving a year-to-date increase of 22.96%. Q2 results showed EPS of $7.14 versus $5.92 expected and revenue of $47.52 billion versus $44.80 billion expected, with Q2 ad revenue at $46.56 billion beating forecasts. Multiple analysts raised price targets in July and August. The company authorized a $50 billion stock buyback and began paying a dividend, with a current yield of 0.27% equal to $0.53 quarterly or $2.12 annualized. Meta is expanding into broader tech and prioritizing AI investments, with forecasts projecting substantial long-term upside.
Read at 24/7 Wall St.
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