Meta gains due to earnings report

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The stock price of Meta is set to start the day's trading with a $33.66 or 7.09% gap up. The gap up will occur due to the company reporting higher than expected quarterly financial results.

The firm has managed to pass the earnings per share expectations by revealing EPS of $5.16 instead of the market forecast $4.717. Meanwhile, total revenues have beat the forecast by just 2.12%. Markets expected revenues to be at $38.261 billion, but the actual number is $39.071.

Meanwhile, some analysts note that the company is showing good results due to a major cost cutting program. However, it might be the case that Meta is one of the rare tech companies that has not suffered from the recently observed broad cost increase with stagnant income.
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