Meta Stock Gains After Q3 Revenue Beat and Strong Q4 Guidance

TLDR Meta (META) stock rose about 2.5% in extended trading after Q3 revenue of $64.6 billion beat estimates of $63.37 billion. Q3 EPS was $3.83, which included a $9.9 billion legal charge. Without it, EPS would have been $7.40. Q4 revenue guidance of $73 billion to $76 billion topped the $73.73 billion analyst estimate. Operating margin fell to 35% from 40%, and free cash flow turned negative. Morgan Stanley raised its price target to $820 from $775 and kept an Overweight rating. Meta (META) stock rose about 2.5% in extended trading on Wednesday after the company beat third-quarter revenue estimates. The stock had closed up 0.5% in the regular session. Meta Platforms, Inc., META Revenue came in at $64.6 billion, above the $63.37 billion analysts expected.

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