Facebook-parent Meta forecasts quarterly revenue above estimates

(Reuters) -Meta Platforms forecast third-quarter revenue above market expectations on Wednesday, anticipating higher ad spending on signs of improving macroeconomic environment.

The company expects July-September revenue in the range $32 billion to $34.5 billion, compared to analysts’ average estimate of $31.30 billion, according to Refinitiv data.

Shares surged 7% in after-market trading, as Meta also beat second-quarter revenue estimates.

Revenue grew 11% to $32 billion in the quarter ended June, compared to analysts’ average estimate of $31.12 billion.

Source link