Meta reports third-quarter earnings after the closing bell on Wednesday.
The company is expected to report revenue of $40.25 billion.
Meta's stock is up nearly 70% in 2024.
It's a big day for one of Wall Street's largest tech titans.
Meta will report its earnings for the third quarterafter the closing bell, and Wall Street is feeling upbeat heading into the results.
Analysts are gearing up for another strong quarter of revenue and earnings for the Facebook parent, thanks to the company's use of AI in its ads business and sweeping cost cuts implemented over the past year.
Shareholders will be keeping an eye out for updates on Meta's future growth prospects, with focus on the company's fourth-quarter guidance, as well as a search engine Meta is reportedly working on to supplement its AI chatbot.
Meta shares rose as much as 2% early Wednesday, before paring gains to trade mostly flat. The stock is up 68% year-to-date.
Meta's consensus third-quarter revenue estimate is $40.25 billion.
3rd quarter
Revenue estimate: $40.25 billion
Advertising rev. estimate: $39.71 billion
Family of Apps revenue estimate: $39.67 billion
Reality Labs revenue estimate: $312.8 million
Other revenue estimate: $390.5 million
Operating income estimate: $16.33 billion
Family of Apps operating income estimate: $20.47 billion
Reality Labs operating loss estimate: $4.66 billion
Operating margin estimate: 39.6%
EPS estimate: $5.25
Ad impressions estimate: +11.5%
Average price per ad estimate: +6.76%
Average Family service users per day estimate: 3.25 billion
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