Meta Platforms Inc (NASDAQ:META) shares are moving higher Thursday after the company reported better-than-expected financial results for the second quarter and issued strong guidance.
What Happened: Meta beat analyst estimates on the top and bottom lines, reporting second-quarter revenue of $47.52 billion versus estimates of $44.58 billion, and earnings of $7.14 per share versus estimates of $5.79 per share.
Second-quarter revenue was up 22% year-over-year as Family daily active people climbed 6% year-over-year. Ad impressions were up 11% year-over-year and average price per ad increased by 9%. Meta said it generated $25.56 billion in cash flow from operations and $8.55 billion of free cash flow during the quarter.
Meta guided for third-quarter revenue in the range of $47.5 billion to $50.5 billion versus Benzinga Pro estimates of $45.87 billion. The company noted that it expects full-year 2025 expenses of $114 billion to $118 billion and full-year capital expenditures of $66 billion to $72 billion.
"We've had a strong quarter both in terms of our business and community. I'm excited to build personal superintelligence for everyone in the world," said Mark Zuckerberg, CEO of Meta Platforms.
Multiple analysts raised price targets on Meta following the company’s quarterly results.
- Rosenblatt analyst Barton Crockett maintained a Buy rating and raised the price target from $918 to $1086.
- BofA Securities analyst Justin Post maintained a Buy and raised the price target from $775 to $900.
- Morgan Stanley analyst Brian Nowak maintained an Overweight and raised the price target from $750 to $850.
- BMO Capital analyst Brian Pitz maintained a Market Perform rating and raised the price target from $610 to $710.
META Price Action: Meta Platforms shares were up 11.3% at $774.00 at the time of publication Thursday, according to Benzinga Pro.
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