META Earnings: Meta Platforms Stock Drops on a Big Q2 Earnings Miss
Complete. Here is the key summaryMeta Platforms stock dropped over 8% in after-hours trading due to a significant Q2 earnings miss. EPS came in at $6.18, below the $7.19 estimate and down 13% year-over-year. However, revenue rose 28% to $60.8 billion, slightly beating expectations. Despite the miss, analysts maintain a Strong Buy rating with an average price target of $809.81.
Shares of Meta Platforms (META) declined over 8% in after-hours trading following the release of mixed second-quarter results. The tech giant reported earnings per share (EPS) of $6.18, which missed analysts' consensus estimate of $7.19 per share and fell 13% from the year-ago quarter. Meanwhile, revenue rose 28% year-over-year to $60.8 billion, slightly beating expectations of $60.22 billion.
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Is Meta a Good Stock to Buy Now?
On TipRanks, META stock has a consensus Strong Buy rating based on 35 Buys and six Holds assigned in the last three months. The average META price target is $809.81, which implies an upside of 37.94% from current levels. However, it's worth noting that estimates will likely change following today's earnings report.