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Meta Platforms:Quarterly Results/2024 Q3: Difference between revisions
Meta Platforms:Quarterly Results/2024 Q3 (view source)
Revision as of 09:26, 21 October 2024
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=== Cautious outlook on Q3 earnings === | === Cautious outlook on Q3 earnings === | ||
* Buy, $550->$620: Roth MKM said (October 11) their channel checks were mixed | * Buy, $550->$620: Roth MKM said (October 11) their channel checks were mixed. It also pointed out that analysts expectations carry "a minimal margin of error."<ref name=":4">https://thefly.com/permalinks/entry.php/id3997000/META-Meta-Platforms-price-target-raised-by--at-Roth-MKM-heres-why</ref> | ||
* Buy, $475->$520: BMO said (October 9) ad channel checks indicate Meta's 1x revenue growth tailwinds are fading and CPG/leisure verticals are weakening<ref name=":0" />. | * Buy, $475->$520: BMO said (October 9) ad channel checks indicate Meta's 1x revenue growth tailwinds are fading and CPG/leisure verticals are weakening<ref name=":0" />. | ||
=== There are signs of a pullback from Chinese advertisers === | |||
* According to Barclays, Temu has shown signs of weakness in the U.S market. "Our quarterly refresh of Barclaycard data on thousands of Temu spenders points to new buyer activations back at 1Q23 levels, well off the 3Q23 peak," Barclays wrote."The cadence of new US Temu users has nearly halved over the last three quarters and is now back at 1Q23 levels."<ref>https://www.investing.com/news/stock-market-news/temu-threat-abating-in-2q24--barclays-432SI-3625826</ref> | |||
* Roth MKM said in October that their checks indicate a pullback from Chinese ecommerce advertisers<ref name=":4" />. | |||
=== The focus on Q3 earnings will be on Q4 guidance === | === The focus on Q3 earnings will be on Q4 guidance === | ||