Glonghui, April 25 | Citi published a research report saying that although Meta's revenue and operating income for the first quarter were about 1% and 4% higher than market expectations, with earnings per share of 4.71 US dollars under GAAP, and the market forecast was 4.32 US dollars, the median income guidance for the second quarter was about 1% lower than the forecast. Meta increased the median expected expenditure guide for 2024 by about 1 billion US dollars and raised its full-year capital expenditure plan. Citi said that Meta's total revenue in the first quarter after deducting exchange effects increased 27% year-on-year to US$36.5 billion; operating revenue was US$13.8 billion. The bank pointed out that the Group's quarterly results were better than expected, but lower revenue guidance and slightly higher operating expenses and capital expenditure forecasts for the second quarter than market expectations may lead to lower stock prices. The bank gave the group a “buy” rating, with a target price of $590.
大行评级｜花旗：Meta今年整体支出及资本开支指引上升或导致股价走低 评级“买入”
Bank Ratings | Citibank: Meta's overall spending and capital expenditure guidelines may rise this year, leading to a lower stock price rating “buy”
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