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Pilgrim's Pride and Meta Platforms Outperform Wall Street Estimates

  • October 25th, 2023
  • 289 views

Pilgrim’s Pride Corporation (Nasdaq: PPC), a leading poultry and prepared foods company, has outperformed market expectations in the third quarter of 2023, reporting adjusted earnings per share (EPS) of $0.58, surpassing the consensus EPS estimate of $0.42. The company's quarterly sales also exceeded projections, reaching $4.36 billion compared to the analysts' expected $4.26 billion.

$PPC was trading at $23.65 in after-hours, reflecting a modest increase of $0.14 (+0.60%).

On the other hand, Meta Platforms, Inc. (Nasdaq: META), formerly known as Facebook, posted strong third-quarter 2023 earnings of $4.39 per share, exceeding the consensus EPS estimate of $3.64. The company's quarterly revenue amounted to $34.14 billion, surpassing analysts' expectations of $33.58 billion.

Looking ahead, Meta Platforms is expecting fourth-quarter 2023 total revenue in the range of $36.5 billion to $40 billion, compared to the consensus estimate of $36.64 billion in revenue for the period.

However, $META was trading at $288.98, down $10.55 (-3.52%) in after-hours.

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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