Meta to Announce Third Quarter 2023 Results: What to Expect


Meta Platforms, Inc. (NASDAQ: META), formerly known as Facebook, is set to announce its third quarter 2023 financial results on Wednesday, October 25, 2023, after the market closes. The company will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. The live webcast of the call can be accessed at the Meta Investor Relations website, along with the company’s earnings press release, financial tables, and slide presentation.

Meta’s Performance in the Previous Quarter

In the second quarter of 2023, Meta reported revenue of $38.9 billion, an increase of 35% year-over-year, and earnings per share of $4.12, beating the analysts’ estimates of $3.94. The company’s daily active users (DAUs) and monthly active users (MAUs) grew by 7% and 6% respectively, reaching 2.03 billion and 3.51 billion. The company also announced its decision to change its corporate name to Meta, reflecting its vision to build the metaverse, a virtual environment where people can interact with each other and digital content.

Meta’s Outlook for the Third Quarter

For the third quarter of 2023, Meta expects revenue to be between $40.5 billion and $42.5 billion, representing a growth rate of 28% to 33% year-over-year. The company also expects operating margin to be between 37% and 38%, and capital expenditures to be between $23 billion and $24 billion. The company anticipates that its user growth and engagement will be impacted by the ongoing COVID-19 pandemic, regulatory actions, and platform changes, such as the iOS 14.5 update that affects its advertising business.

Meta to Announce Third Quarter 2023 Results

Meta’s Key Challenges and Opportunities

Meta faces several challenges and opportunities in the third quarter and beyond, such as:

  • The company is under intense scrutiny from regulators, lawmakers, and activists around the world, who accuse it of abusing its market power, spreading misinformation and harmful content, violating users’ privacy and data rights, and failing to protect its workers and communities. The company is facing multiple lawsuits, investigations, and fines from various authorities, as well as boycotts and protests from civil society groups and users.
  • The company is investing heavily in building the metaverse, a long-term ambition that could transform the way people communicate, work, learn, play, and shop online. The company has rebranded itself as Meta and restructured its business units to focus on its metaverse products, such as Oculus VR, Portal, Horizon, and Spark AR. The company is also acquiring and partnering with other companies and creators in the metaverse space, such as BigBox VR, Unit 2 Games, and Epic Games.
  • The company is expanding its e-commerce and payments offerings, such as Shops, Marketplace, WhatsApp Pay, and Novi, to diversify its revenue streams and compete with other platforms, such as Amazon, Shopify, and PayPal. The company is also developing its own cryptocurrency, Diem, which aims to provide a fast, secure, and low-cost way to send and receive money around the world.


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