6,294
edits
Meta Platforms:Quarterly Results/2023 Q2: Difference between revisions
Meta Platforms:Quarterly Results/2023 Q2 (view source)
Revision as of 12:21, 19 July 2023
, 19 July 2023no edit summary
No edit summary |
|||
| Line 71: | Line 71: | ||
* He raised his forecaset revenue and earnings forecast for the next 5 years by 8% and 7%, respectively. | * He raised his forecaset revenue and earnings forecast for the next 5 years by 8% and 7%, respectively. | ||
* On monetization of Threads, he said, "We do not have any potential Threads rev. in our current Meta forecast, but if the service attracts further users and engagement, we expect Meta to start to monetize the app." | * On monetization of Threads, he said, "We do not have any potential Threads rev. in our current Meta forecast, but if the service attracts further users and engagement, we expect Meta to start to monetize the app." | ||
* Blackledge was bearish on Meta in Q1 2023. | |||
=== Stephen Ju, Credit Suisse === | === Stephen Ju, Credit Suisse === | ||
| Line 107: | Line 108: | ||
* He believes advertising market is now “stable-to-improving”. | * He believes advertising market is now “stable-to-improving”. | ||
* Josey believes advertising revenue will grow by 14% year over year in 2024 and Reels will account for around $10.5 billion in ad revenue. | * Josey believes advertising revenue will grow by 14% year over year in 2024 and Reels will account for around $10.5 billion in ad revenue. | ||
== Competitor Results and Analysts Expectations == | |||
=== Snap === | |||
===== Management Guidance ===== | |||
Management did not provide guidance for the second quarter<ref>https://s25.q4cdn.com/442043304/files/doc_financials/2023/q1/Press-Release-Q1-2023.pdf (page 4)</ref>. | |||
===== Analysts Estimates ===== | |||
{| class="wikitable" | |||
|+ | |||
!Key Items | |||
!Estimate | |||
!Y/Y Growth | |||
|- | |||
|Revenue<ref name=":1">https://www.zacks.com/stock/news/2122916/snap-snap-expected-to-beat-earnings-estimates-what-to-know-ahead-of-q2-release?cid=CS-ZC-FT-tale_of_the_tape%7Cyseop_template_9-2122916</ref> | |||
|$1.05 billion | |||
| -5.7% | |||
|- | |||
|EPS<ref name=":1" /> | |||
|<nowiki>-$0.04</nowiki> | |||
| -100% | |||
|} | |||
=== Pinterest === | |||
===== Management Guidance ===== | |||
* "Our current expectation is that Q2 revenue will grow roughly in-line with the growth we saw in Q4 2022 and Q1 2023. We expect our Q2 non-GAAP operating expenses to grow low teens on a percentage basis quarter-over-quarter," the management said in the press release<ref>https://investor.pinterestinc.com/press-releases/press-releases-details/2023/Pinterest-Announces-First-Quarter-2023-Results/default.aspx</ref>. | |||
* Its revenue grew 5% year-over-year to $603 million in Q1 2023<ref name=":2">https://www.fool.com/earnings/call-transcripts/2023/04/28/pinterest-pins-q1-2023-earnings-call-transcript/</ref>. | |||
* Regarding monthly active user trends, its CFO Todd Morgenfeld said, "Q2 is our seasonally softest quarter as people tend to travel and spend more time outside starting in June. This is particularly pronounced for us as we measure monthly active users on a 30-day look back from the last day in June<ref name=":2" />." | |||
* CFO Todd noted that they still don't have visibility into an acceleration in ads demand<ref name=":2" />. | |||
* Still expect a small impact in Q2 from foreign currecy headwind<ref name=":2" />. | |||
* When asked to describe the current state of the ad market last month, CEO Bill Ready said, "Well, I mean, what I would say is, like, I think it's hard to predict the macro. I think the ad market still has spots. There are bright spots in the ad market, I think there are other parts of the ad market that are challenged. So there's, sort of, still puts and takes across those."<ref>https://finance.yahoo.com/video/pinterest-ceo-says-pays-positive-200436258.html</ref> | |||
===== Analysts Estimates ===== | |||
{| class="wikitable" | |||
!Key Items | |||
!Estimate | |||
!Y/Y Growth | |||
|- | |||
|Revenue<ref name=":3">https://finance.yahoo.com/quote/PINS/analysis?p=PINS</ref> | |||
|$695.68 million | |||
|4.47% | |||
|- | |||
|EPS<ref name=":3" /> | |||
|$0.12 | |||
|9.09% | |||
|} | |||
* Mark Mahaney, Evercore analyst, upgraded Pinterest to outperform with a price target of $41 on July 18, 2023. Mahaney said that Pinterest is at an "inflection point" as digital advertising spending stabilizes<ref name=":4">https://www.bloomberg.com/news/articles/2023-07-18/pinterest-gains-a-new-bull-as-evercore-touts-inflection-point</ref>. | |||
* Analyst Justin Patterson of Keybanc also raised Pinterest price target from $32 to $35 as he sees improvements in the digital advertising market<ref name=":4" />. | |||
=== Alphabet === | |||
===== Management Guidance ===== | |||
===== Analysts Estimates ===== | |||
== References == | == References == | ||
<references /> | <references /> | ||