Deutsche Bank provided their outlook on Meta Platforms, Inc. (NASDAQ:META) ahead of the upcoming Q3 earnings, expected to be announced on Oct 26.
Since the company’s Q2 results, the stock performance has generally lagged the broader market amid macro concerns and the ongoing format shift to Reels, which is still under monetized compared to the news feed.
Heading into the Q3 print, the analysts believe a better-than-feared result should be able to support the stock in the near term, given investor concerns around an advertising market that continues to deteriorate and the company’s recent underperformance compared to the broader market and peers.
The analysts expect Q3 revenue of $27.6 billion (down 4.9% year-over-year) and an operating income of $6.1 billion (down 41% year-over-year). The analysts lowered their fiscal 2023 estimates by 2.6% to approximately $126 billion (up 8% year-over-year), modestly below current Street estimates.

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