What You Need To Know Ahead of Meta’s Earnings Report [Video]

Analysts and investors will be watching Meta Platforms’ (META) advertising revenue growth and seeking updates about the impact of artificial intelligence (AI) technology when it reports earnings for the first quarter of 2024 on Wednesday, April 24, after the closing bell.

Analysts project Meta‘s revenue to be $36.24 billion for the first quarter of 2024, down from the previous quarter but up from $28.65 billion in the same period in 2023, according to estimates compiled by Visible Alpha.

Adjusted net income is expected to be $14.39 billion, a decline from the fourth quarter but a roughly two-thirds increase from $8.58 billion in Q1 2023. Adjusted earnings per share (EPS) are projected at $5.55, compared with $3.33 in the same period a year earlier.

Analysts are watching for strong growth in Meta’s advertising revenue.

CFRA analysts project that Meta’s first-quarter earnings report could show advertising revenue will grow 26%, which “likely mark[s] a peak growth rate.” The analysts said that …