Published , by TJ Denzer
Published , by TJ Denzer
Among tech companies reporting on their fiscal earnings, Meta (formerly Facebook) was the latest to report on its latest quarter. It seemed to be pretty good news for Meta’s Q2 2023 from a stats standpoint. The company came out ahead on revenue and was able to put up an earnings-per-share (EPS) that beat analyst expectations. That ended the company’s quarter on a successful note.
Meta posted its Q2 2023 earnings results on its investor relations website on July 26, 2023. The company put up a revenue of $32 billion. That was well above the Wall Street analyst expectations that called for $31.1 billion. Meanwhile, Meta put up a final EPS of $2.98 per share. This was good enough to beat out the Wall Street expectation of $2.92 per share. That said, it wasn’t quite able to claim the same victory against Whisper Number expectations that called for $3.02 per share.
With the continued success of Facebook and Instagram, continued (if costly) investment in Meta Reality Labs and VR technology, and the launch of Threads as a direct competitor against Twitter (now named X), Meta has a lot of good things going and some irons in the fire. The company is also preparing to launch the Meta Quest 3 headset later this year, which will bring in its latest generation of consumer-focused and affordable VR hardware.
All these things considered, Meta’s solid Q2 2023 makes sense and it doesn’t look like the company is slowing down anytime soon. As companies continue to report on their latest fiscal quarters, stay tuned for the latest earnings results reporting here at Shacknews.