Meta’s blowout year continues after the company reported another stellar financial quarter on Wednesday. But shares fell in after-hours trading after the company missed Wall Street expectations for daily active users.
Wall Street analysts had high expectations for the Instagram and WhatsApp parent company, projecting an 18% jump in sales year over year. The company reported $40.6bn in sales, a 19% increase year over year that outpaced investor expectations of $40.19bn. Meta, which saw a 25% jump in its share price over the past two months, reported $6.03 in earnings per share (EPS), surpassing Wall Street’s expectations of an EPS of $5.29.
