Social media giant Meta Platforms (NASDAQ:META) will release its Q1 2024 financials on Wednesday, April 24. Solid engagement across its apps, improving ad demand, and enhanced efficiency will likely drive its top and bottom lines in Q1.
With this backdrop, let’s look at the Street’s consensus estimates for Q1. But before that, it’s important to highlight that Meta’s efforts to drive engagement on its platform, investments in Artificial Intelligence (AI) technology, and higher advertising revenue have led to a rally in its share price. Meta stock has gained 126.6% in one year, significantly outperforming the S&P 500 Index (SPX).
META – Q1 Expectations
Wall Street analysts expect Meta to post revenue of $36.11 billion in Q1, up about 26% year-over-year. The company’s top line could continue to benefit from higher Family of Apps ad revenue in Q1, led by the strong demand from online commerce and…
