Meta Platforms (FB) Stock News and Forecast: Facebook earnings preview

Meta Platforms, better known as Facebook, is due to report earnings after the close on Wednesday.
Facebook is expected to post EPS of $3.83 and revenue of $33.44 billion.
Advertising revenue was strong for Google parent Alphabet.

Ivan Brian FXStreet

Facebook (FB), now known as Meta Platforms, steps up to the plate after the close on Wednesday in the next of the mega tech names to report earnings. The bar has so far been set high by Apple (AAPL) and Alphabet (GOOGL), so Facebook has a tough act to follow. Last time out it missed on revenue, which saw the shares lose 4%. The stock has already priced in much of the performance as FB stock rallied 5% after the Google numbers hit the tape. The social media giant finds itself in a tougher position. An earnings beat is now more widely expected, so any disappointment will likely see a harsher reaction on the share price.

Meta Platforms Stock News

Earnings are out after the close on Wednesday. Advertising revenue is the metric with most interest, and the conference call afterward will give more details on the breakdown and outlook. Any regulatory concerns will also need to be watched as big tech firms face up to growing pressures from various governments. Facebook may also address Apple privacy concerns that have been mentioned in past earnings releases.

Monthly active users or MAU is also by now a well-known metric for online firms, and this is expected to come in at 2.9 billion users.

Meta Platforms Stock Forecast

Already FB stock has rallied in the afterhours on Tuesday and carried on in the premarket session on Wednesday. FB shares are up to $328 now and are in a high volume zone. High volume is basically high traffic, so the price will likely slow down. We have had a series of lower lows identified by the lower trend line, but the Moving Average Convergence Divergence (MACD) indicator has given a bullish crossover. FB has also moved back above the 200-day moving average. Resistance is at $352, and breaking above here should see a move to record highs. $340 to $320 is neutral with high traffic. Support is at $310 from the 9-day moving average and $289 from the last significant trend low.

Meta Facebook (FB) chart, daily

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Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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