Meta beats quarterly expectations

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


The stock price of Facebook owner Meta has jumped $31.23 or 14.93% in US pre-market opening trading. The jump of the equity was caused by better than expected quarterly financial results.

Meta reported earnings per share at $2.20 instead of expected $2.021 which is a beat of 8.86%. Meanwhile, total revenues were higher by 3.53% than the forecasts.

In addition, note that the company's stock price has recovered 171.88% since the low of November 4. Most of the recovery has been attributed to Mark Zuckerberg dropping his Metaverse creation plans and announcing that 2023 would be a year of efficiency.

On Thursday, the stock price was expected to trade above the 2022 April high of $236.50.
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