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<Research>BofAS Expects Meta (META.US) Quarterly Rev. May Beat, Ad Rev. to Rise 20% YoY
Recommend 8 Positive 5 Negative 12 |
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Meta Platforms (META.US) will announce its 2Q24 results next Wednesday (31 July). BofA Securities issued a research report expecting Meta's 2Q24 revenue to exceed or meet expectations of US$38.5 billion, with advertising revenue rising 20% YoY. EBITDA is estimated to be US$23 billion, while EPS will be US$4.98, both of which exceeded the market's expectations, with healthy IG user usage time and user growth. 3Q24 revenue guidance is estimated to be in the range of US$37.5 billion to US$40.5 billion. Meta's 2H24 advertising revenue could benefit amid political ad spending and possible restrictions on TikTok. BofA Securities kept rating at Buy on Meta, with a target price of US$550, reflecting a PE forecast of 22x for 2025. AAStocks Financial News |
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