Meta Platforms Set to Release Q1 Fiscal 2024 Earnings
Meta Platforms (META) is poised to release its first-quarter fiscal 2024 results on April 24th after the market closes. The company has outperformed the industry over the past three months, gaining 22%. Analysts are predicting a strong quarter for Meta Platforms, with a positive Earnings ESP of +0.62% and a Zacks Rank #2 (Buy).
Points to Watch
– Meta Platforms has a strong chance of beating earnings estimates, as indicated by positive earnings revisions and a Zacks Rank of #2 (Buy).
– The company has delivered an average earnings surprise of 19.71% in the last four quarters.
– The current Zacks Consensus Estimate for the yet-to-be-reported quarter indicates substantial year-over-year earnings growth of 63.6%, with expected revenue growth of 26.6%.
ETFs to Consider
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Communication Services Select Sector SPDR Fund (XLC):
This ETF provides exposure to companies in the communication services sector, including Meta Platforms, which holds a 23% share. It charges an annual fee of 9 basis points.–
Fidelity MSCI Communication Services Index ETF (FCOM):
This ETF tracks the MSCI USA IMI Communication Services 25/50 Index, with Meta Platforms as its top holding at 27.8%. It has an annual fee of 8 basis points.–
Vanguard Communication Services ETF (VOX):
This ETF tracks the MSCI US Investable Market Communication Services 25/50 Index, with Meta Platform occupying the top spot with a 22.4% share. Interactive media and services account for 51% of the portfolio. It charges an annual fee of 10 basis points.–
iShares Global Comm Services ETF (IXP):
This ETF offers global exposure to companies in media, entertainment, and telecommunication services, with Meta Platforms as its largest holding at 21.4%. It charges an expense ratio of 0.42%.–
Global X Social Media Index ETF (SOCL):
This ETF provides investors access to social media companies worldwide, with Meta Platforms holding the second position with 10.3% of the assets. It charges an annual fee of 0.65%.Investors should note that investing in ETFs involves risks. It is important to carefully consider the investment objectives, risks, and expenses before investing in any ETF.
