Published on 26 Apr 2024 on Benzinga
...Actually Has Major Profit Margins Unlike Tesla': Redditor Reacts To Stock Drop Following Q1...
Meta Platforms Inc META, formerly Facebook, recently reported a revenue and earnings beat for Q1 2024 but issued disappointing guidance for the future.
This news caused the stock to drop 11% in extended trading, overshadowing the positive quarterly results. While earnings per share ($4.71) and revenue ($36.46 billion) exceeded expectations, the company’s forecast for Q2 fell short of analysts’ estimates, with projected revenue between $36.5 billion and $39 billion.