Meta shares fell Thursday after the company offered cautious comments about the impact of the ongoing Israel-Hamas war.
Meta shares fell Thursday, a day after the company released strong third-quarter results but offered cautious comments about the impact of the ongoing Israel-Hamas war.
Shares of Meta initially rose after the report but the gains were erased when Meta's finance chief Susan Li warned analysts about unpredictability in the Middle East. As a result of the conflict, Meta gave fourth-quarter guidance between $36.5 billion to $40 billion. The range is wider than the $2.5 billion gap the company typically offers.
Evercore analysts said"the BIG negative" from the call was that brand advertising demand has slowed as a result of the war. They note that"We believe ad demand has already begun to recover at Meta," they said in a note Wednesday, adding that they"believe near-term ad market demand will be more volatile than usual."
Analysts at Morgan Stanley said, while Meta has seen some pause in branded advertising, they believe the company has been less impacted than others. They said Meta's AI investments and its increasing engagement on Reels remind them of when the company was first growing its Facebook and Instagram platforms.
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