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Meta Platforms:Quarterly Results/2024 Q2: Difference between revisions
Meta Platforms:Quarterly Results/2024 Q2 (view source)
Revision as of 10:20, 23 July 2024
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=== The advertising market remains robust === | === The advertising market remains robust === | ||
* Buy, $593->$625: Wells Fargo analysts said their checks indicate robust ads performance in Q2<ref>https://thefly.com/permalinks/entry.php/id3941943/META-Meta-Platforms-price-target-raised-by--at-Wells-Fargo-heres-why</ref>. - Wells Fargo cited Revealbot data that indicates Meta's CPM rose 19% y/y in Q2 2024<ref>https://seekingalpha.com/article/4705306-meta-platforms-q2-what-to-expect-and-what-to-watch</ref>. | * Buy, $593->$625: Wells Fargo analysts said their checks indicate robust ads performance in Q2<ref>https://thefly.com/permalinks/entry.php/id3941943/META-Meta-Platforms-price-target-raised-by--at-Wells-Fargo-heres-why</ref>. - Wells Fargo cited Revealbot data that indicates Meta's CPM rose 19% y/y in Q2 2024<ref name=":1">https://seekingalpha.com/article/4705306-meta-platforms-q2-what-to-expect-and-what-to-watch</ref>. | ||
[[File:Revealbot.png|left|thumb|350x350px]] | [[File:Revealbot.png|left|thumb|350x350px]] | ||
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* Buy, $475->$540: Keybanc said Meta has seen a meaningful uptick in ad prices quarter-to-date<ref>https://thefly.com/permalinks/entry.php/id3935345/META-Meta-Platforms-price-target-raised-by--at-KeyBanc-heres-why</ref>. <br /> | * Buy, $475->$540: Keybanc said Meta has seen a meaningful uptick in ad prices quarter-to-date<ref>https://thefly.com/permalinks/entry.php/id3935345/META-Meta-Platforms-price-target-raised-by--at-KeyBanc-heres-why</ref>. | ||
* Buy, $550: Citi said their Reels tracking and ad checks indicate a strengthening digital ad environment. It believes Meta Platforms is gaining share of ad spend. It pointed out that Reels ad loads expanded by 160 basis points to just under 22% quarter-to-date<ref>https://thefly.com/permalinks/entry.php/id3932323/META-Meta-remains-top-pick-at-Citi-following-Reels-ad-load-update</ref>. | |||
=== Steady user engagement === | |||
* According to TD Cowen Q2 survey, Facebook users spent an average of 45 mins/per day (flat QoQ) while Instagram users spent ana average of 39 minutes, up from 38 minutes last year same quarter. Engagement among young users (18-24) grew significantly, with Instagram users increasing time spent by 8 minutes to 54 minutes per day<ref name=":1" />. <br /> | |||
== References == | == References == | ||