Meta Platforms Inc (META) to Report Earnings on 04/24/2024
Meta Platforms Inc. (META) is scheduled to report its earnings for the fiscal quarter on Tuesday, April 24, 2024, after the market closes.
Analysts expect the company to report earnings per share (EPS) of $2.56 on revenue of $30.86 billion.
In the same quarter last year, Meta Platforms reported EPS of $2.72 on revenue of $29.01 billion. The company's free cash flow was $11.50 billion for the fourth quarter and $43.01 billion for the full year 2023.
Meta Platforms' long-term debt was $55.84 billion as of December 31, 2023. The company's stock is down about 4% heading into its third-quarter earnings report this afternoon.
The decline is nearly double the Nasdaq 100's 2% drop over the same period. Meta Platforms' stock has been under pressure in recent months as investors worry about the company's slowing growth and increasing competition.
The company's net income more than tripled to $14 billion, or $5.33 per share, from $4.65 billion, or $1.76 per share, a year earlier. Revenue rose 33% to $32.62 billion from $24.52 billion.
Analysts expect Meta Platforms to report another strong quarter when it reports earnings on Tuesday. The company is expected to benefit from continued growth in its advertising business.
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