Meta Stock Surges as Quarterly Earnings Exceed Expectations

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Meta Stock Surges as Quarterly Earnings Exceed Expectations
Photo: Jeff Chiu/AP/TT

Facebook's and Instagram's parent company Meta exceeded expectations significantly for the latest quarter. The share is rising sharply in after-hours trading.

Meta reports a result of 7.14 dollars per share. The analysts had expected 5.92 dollars per share, reports CNBC.

The company's turnover for the period amounted to 47.5 billion dollars. This can be compared to 44.8 billion dollars that the analysts had counted on.

For the third quarter, the company expects that revenues will fall in the range of 47.5-50.5 billion dollars. The analysts had counted on them being 46.1 billion dollars.

Meta's share shot up in after-hours trading on the New York Stock Exchange. A few minutes after the report was released, it was over 10 percent up.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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