"When the company reported Q3 earnings on Oct. 29, it announced quarterly revenue of $51.24 billion, beating analysts' expectations of $49.41 billion by 26.2%. Adjusted EPS came in at $7.25, beating expectations of $6.69 by 20.2%. But GAAP ESP of $1.05 fell 82.6% short of expectations of $6.70. Still, the company's third-quarter sales rose 26% year-over-year, which is its highest revenue growth since FY 2024 Q1."
"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 0.33% may not seem like much, at its current price, that equates to 52 cents per share quarterly, or $2.08 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 gained 3.87% over the past five trading sessions following a 7.19% gain in the prior five. The stock corrected more than 21% after AI CapEx concerns and has rebounded nearly 10% since bottoming on Nov. 19. Q3 revenue was $51.24 billion, beating expectations; adjusted EPS was $7.25, also above estimates, while GAAP EPS was $1.05. Third-quarter sales rose 26% year-over-year, the highest since FY2024 Q1. Meta authorized a $50 billion buyback and initiated a dividend with a 0.33% current yield. The company is prioritizing AI investment and expanding beyond social media.
Read at 24/7 Wall St.
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