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Magnificent Earnings Week: What was your fave?
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Meta Platforms Shares Slip After-Hours as 2024 Capex Outlook Raised

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Luzi Ann Santos joined discussion · Oct 30 15:08
$Meta Platforms (META.US)$ shares slipped 3.2% in extended trading after the company raised the low end of its capital expenditures outlook, overshadowing the earnings and revenue beat for the third quarter.


Meta sees capex for all of 2024 to be in the range of $38 billion to $48 billion, according to its press release. That compares with a previous range of $37 billion to $40 billion, and the $38.06 billion expected by analysts, according to Bloomberg consensus.
The company sees revenue for the current quarter to be in the range of $45 billion to $48 billion. Analysts, on average, expected revenue for the three months ending in December to reach $46.09 billion.
Facebook's parent company reported earnings of $6.03 for the third quarter, exceeding the $5.25 expected by analysts, according to estimates compiled by Bloomberg. Revenue for the quarter reached $40.59 billion, higher than the $40.25 billion average analyst estimate.
"We continue to expect significant capital expenditures growth in 2025," Susan J. Li, Meta's chief financial officer said in the company's earnings release. "Given this, along with the back-end weighted nature of our 2024 capital expenditures, we expect a significant acceleration in infrastructure expense growth next year as we recognize higher growth in depreciation and operating expenses of our expanded infrastructure fleet."
Meta Platforms Shares Slip After-Hours as 2024 Capex Outlook Raised
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Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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