Anticipation is mounting as Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB), the parent company of Facebook, Instagram, and WhatsApp, gears up to unveil its first-quarter earnings report next week. Following the company’s impressive performance in recent quarters, market expectations remain lofty, but seemingly within reach.
In February, the California-based tech behemoth witnessed a significant uptick in its stock price following its fourth-quarter 2023 earnings report, which showcased record-breaking revenue figures and marked its inaugural dividend declaration.
Analysts on Wall Street project a robust upsurge in earnings per share (EPS) for the first quarter, with estimates pointing to a staggering 95% increase to $4.31, compared to $2.20 in the corresponding period last year. Revenue forecasts also indicate healthy growth, with an anticipated year-over-year increase of 25% to $36.22 billion. 
Meta’s own revenue guidance for the quarter falls within the range of $34.5 billion to $37 billion, providing further insight into the company’s optimistic outlook.
Investors will be closely monitoring updates on Meta’s cost-saving initiatives and its broader artificial intelligence (AI) endeavors, particularly following the recent launch of its updated custom AI chip earlier this month.
Meta is scheduled to release its first-quarter earnings report after the market closes on Wednesday, April 24.
With Meta’s shares closing at $494 on Wednesday, the company has witnessed a remarkable ascent, registering a remarkable 125% gain over the past 12 months. Notably, in January, Meta’s market capitalization surpassed the trillion-dollar mark once again, underscoring its formidable presence in the tech landscape.
