"Shares of Meta Platforms Inc. (NASDAQ: META) gained 2.03% over the past five trading sessions after gaining 3.87% the five prior. The fallout from concerns over its AI CapEx announced during the company's Q3 earnings report caused the stock to correct more than 21%, but since bottoming on Nov. 19, shares of META are up 11.29%. The Magnificent Seven member's year-to-date performance stands at a gain of 9.63%."
"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."
Meta Platforms' shares recovered after a post-earnings correction driven by concerns over AI capital expenditures, rising 11.29% since bottoming on Nov. 19 and up 9.63% year-to-date. The company reported Q3 revenue of $51.24 billion and adjusted EPS of $7.25, both exceeding analyst expectations, while GAAP EPS of $1.05 fell well short. Third-quarter sales rose 26% year-over-year, the highest since FY 2024 Q1. Meta authorized a $50 billion buyback and instituted a dividend yielding 0.33% ($2.08 annualized). Revenue grew roughly 1,196% from 2014 to 2024, driven primarily by advertising across its social platforms.
Read at 24/7 Wall St.
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