Meta Platforms Reports 26% Revenue Growth in Q3, AI Glasses May Become New Revenue Stream
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: NASDAQ.COM
- Significant Revenue Growth: Meta Platforms achieved a 26% year-over-year revenue growth in Q3, showcasing the robust performance of its advertising business and solidifying its position as the second-largest advertising company globally.
- Strong User Growth: The platform reported 3.54 billion daily active users, an 8% increase year-over-year, which not only boosts ad impressions but also lays a strong foundation for future revenue growth.
- New Product Potential: The recently launched AI glasses by Meta may become a significant revenue source in the coming years, helping the company diversify its financial structure and attract new investors.
- Optimistic Market Outlook: With the continued demand for social media, Meta's advertising revenue is expected to rise further, enhancing its competitive edge in a fiercely contested market.
META
$663.29+Infinity%1D
Analyst Views on META
Wall Street analysts forecast META stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for META is 832.06 USD with a low forecast of 655.15 USD and a high forecast of 1117 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
43 Analyst Rating
36 Buy
6 Hold
1 Sell
Strong Buy
Current: 667.550
Low
655.15
Averages
832.06
High
1117
Current: 667.550
Low
655.15
Averages
832.06
High
1117
About META
Meta Platforms, Inc. is building human connections, powered by artificial intelligence and immersive technologies. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearables. It also helps people discover and learn about what is going on in the world around them, enabling people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large. The Company's segments include Family of Apps (FoA) and Reality Labs (RL). FoA segment includes Facebook, Instagram, Messenger, WhatsApp and Threads. RL segment includes its virtual, augmented, and mixed reality related consumer hardware, software and content. Its product offerings in VR include its Meta Quest devices, as well as software and content available through the Meta Horizon Store.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
