Meta Stock: Earnings Out Soon. Shares Up 2%. (Live Coverage)

Meta Platforms (META) volition study 2nd 4th net this day aft trading closes. Meta banal was a top-performing banal past twelvemonth and aboriginal successful 2024 but shares of the Facebook genitor institution has slumped successful caller weeks.

↑ X NOW PLAYING Here's How Meta's AI Tools Are Set To Supercharge Revenue In Year Of Efficiency

That raises the stakes for the Mark Zuckerberg-led institution heading into the report. Overall, analysts expect Meta to station a 19.6% year-over-year summation successful sales, to $38.26 billion, for its June-ended quarter, according to FactSet. Earnings are expected to emergence 57% year-over-year to $4.72 per share, according to FactSet.

That would people a gross slowdown for Meta compared to its 27% year-over-year maturation successful Q1. That is mostly due to the fact that the societal media elephantine is coming up against harder comparisons from a twelvemonth earlier. After the integer advertizing marketplace slumped successful 2022 adn dragged down Meta's sales, the institution gross maturation began to prime backmost up again past spring.

Investors volition besides beryllium closely listening for commentary from Zuckerberg connected the company's AI efforts and, especially, however overmuch they volition cost. Meta accrued its guidance for 2024 spending erstwhile it merchandise archetypal 4th results successful precocious April, causing the banal to slide.

Check backmost present for unrecorded updates. Also, work much connected Meta's Q2 expectations here. 

Meta Stock: Down 6% In July

On the stock marketplace today, Meta banal is up 2.2% successful caller enactment astatine 473.41.

But it has mostly been a unsmooth period of July for Meta stock. Shares person fallen astir 6% since June 30 and are down much than 12% from a grounds precocious of 542.81 reached connected July 5.

Meta's caller descent has travel arsenic the broader radical of Magnificent Seven stocks have struggled. Investors person rotated from outperforming large tech stocks and into different markets pursuing a chill ostentation people that raised hopes for a complaint chopped successful September.

Meta banal besides fell aft Google reported little than expected advertisement gross for its YouTube part past week.

Meta banal remains much than 3% beneath its 50-day moving average. Shares fell beneath the 50-day enactment successful dense measurement earlier this month.

Shares person besides plunged good beneath a 514.01 cup-with-handle bargain constituent that marked a imaginable interruption retired connected June 27. Meanwhile, Meta stock's Relative Strength enactment has fallen from a 95 (out of 99) earlier this period to 86.

Meanwhile, the IBD Stock Checkup instrumentality shows Meta banal holds an IBD Composite Rating of 85 from a best-possible 99. The people means Meta banal is presently successful the apical 15% of stocks successful presumption of cardinal show metrics and method strength. But the apical maturation stocks typically clasp scores supra 90.

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