Meta seen reporting strong advertising revenue growth
META•AI spending and analyst expectations
** META is currently in a race to build out AI infrastructure. It announced a venture with BlackRock to develop and operate a data center campus in El Paso, Texas, a project that would cost about $14 billion in development.
** The 65 analysts covering META have an average rating of "buy" and the median PT is $820, per LSEG data.
** META is down 10.3% YTD vs NASDAQ Composite Index's .IXIC 5.8% increase.
Meta expected to report strong ad revenue growth
** Shares of Meta META.O were flat at $591.18 ahead of its quarterly earnings result due after markets close on Wednesday.
** META is seen reporting $60 bln in revenue on strong advertising growth across its family of apps, including Instagram and Facebook in the United States, Europe and the rest of the world, except Asia Pacific — where ad revenue is declining.
** Q2 adj. EPS is expected to rise 1% to $7.22.
