Meta, Stock Soars 15% Following Earnings Report
[Asia Economy New York=Special Correspondent Joselgina] Meta Platforms, the parent company of Facebook, announced earnings per share (EPS) that exceeded market expectations on the 27th (local time), causing its stock price to surge about 15% in after-hours trading.
According to the economic media CNBC, Meta released its quarterly earnings shortly after the New York Stock Exchange closed that day.
Meta's quarterly revenue was $27.91 billion, below the market expectation of $28.2 billion. However, EPS was $2.72, significantly surpassing the market expectation of $2.56. Daily active users were recorded at 1.96 billion, exceeding forecasts.
Before the earnings release, Meta's stock price closed down 3.32% during regular trading, but as of 4:37 p.m. Eastern Time, it was trading up 15.12% at $201.86.
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After the market close on this day, companies including Qualcomm, PayPal, and Ford will also announce their first-quarter earnings.
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