Latest news for Oicintra (OTC:OICT) Stock

Oicintra Inc is a precious metals processing company that markets its proprietary methods to extract and leach precious metals from ore. Its target market is precious metals mining operations. Its process improves on environmental hazards typically associated with processing ore to extract valuable precious metals reducing the use of mercury by small and medium-scale miners, and the use of cyanide by medium and large-scale miners.

Oicintra Inc

Kyndryl Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>) reported quarterly earnings of $0.05 per share which missed the analyst consensus estimate of $0.10 by 50 percent. The company reported quarterly sales of $3.740 billion which missed the analyst consensus estimate of $3.790 billion by 1.32 percent. This is a 10.80 percent decrease over sales of $4.193 billion the same period last year.

Earnings

Earnings Misses

News

Kyndryl Hldgs Q1 2025 GAAP EPS $0.05 Misses $0.10 Estimate, Sales $3.740B Miss $3.790B Estimate

FINANCIAL GUIDANCE
<ul>
<li>Based upon the Company's current operating plan, Sage anticipates that its existing cash, cash equivalents and marketable securities, anticipated funding from ongoing collaborations, and estimated revenues, will support its operations into 2026.​</li>
<li>The Company does not anticipate receipt of any milestone payments from collaborations in the remainder of 2024.</li>
<li>The Company anticipates operating expenses will decrease in 2024 relative to 2023.​
<ul>
<li>With the availability of ZURZUVAE as an additional treatment for women with PPD, the Company anticipates ZULRESSO revenues will continue to decrease over time.</li>
</ul>
</li>
</ul>

Guidance

SAGE

Sage Anticipates That Its Existing Cash, Cash Equivalents And Marketable Securities, Anticipated Funding From Ongoing Collaborations, And Estimated Revenues, Will Support Its Operations Into 2026

Cheesecake Factory (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>) reported quarterly earnings of $1.09 per share which beat the analyst consensus estimate of $1.00 by 9 percent. The company reported quarterly sales of $904.000 million which missed the analyst consensus estimate of $908.662 million by 0.51 percent. This is a 4.37 percent increase over sales of $866.170 million the same period last year.

Earnings Beats

CAKE

Cheesecake Factory Q2 2024 Adj. EPS $1.09 Beats $1.00 Estimate, Sales $904.000M Miss $908.662M Estimate

Regal Rexnord Updates 2024 Guidance: Lowers GAAP Diluted EPS to $3.70-$4.10 From $3.97-$4.77, Adjusted Diluted EPS to $9.40-$9.80 From $9.60-$10.40 Due to Softer Automation & Motion Control Segment and Higher Interest Costs

GFL Environmental  Q2 2024 EPS CAD$(1.31)

TENB

Tenable Sees Q3 2024 Revenue $222M-$224M Vs $218M Estimate; Sees Adj. EPS $0.28-$0.30 Vs $0.24 Estimate

Antero Resources Q2 EPS $(0.21) Up From $(0.28) YoY; Revenue $978.654M Up From $953.305M YoY

As part of the initial review to optimize its network,&nbsp;Albemarle&nbsp;today announced changes to the operating footprint at its Kemerton lithium hydroxide conversion site in Australia. The company will: &nbsp;
<ul>
<li>Stop construction activities at Train 3</li>
<li>Idle production at Train 2 and place the unit in care and maintenance</li>
<li>Focus manufacturing efforts on the continued ramp and qualification of Train 1</li>
</ul>

Albemarle Launches Comprehensive Review Of Its Cost And Operating Structure

Inari Medical, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nari#NASDAQ">NARI</a>) reported an adjusted loss per share of 41 cents in the second quarter of 2024 compared with the year-ago period&#39;s loss of 4 cents per share. The Zacks Consensus Estimate for loss per share was pegged at 16 cents. On a GAAP basis, the company recorded a loss per share of 54 cents. There was no adjustment in the prior-year period.
<h3>Revenues in Detail</h3>
Inari Medical registered revenues of $145.8 million in the second quarter, up 22.5% year over year. The figure beat the Zacks Consensus Estimate by 1.3%.
<h3>Q2 Highlights</h3>
According to management, Inari Medical saw record cases and revenue generation outside of the United States in the second quarter. Increased adoption of Inari Medical&#39;s products in Western Europe was the main factor driving its performance and excellent case growth in early-stage markets in Latin America, Canada, and the Asia-Pacific region.
The company is expecting to start treating patients in China and Japan in 2024, and it is currently making good progress in both regions. Management expects its international business to represent more than 20% of total revenues in the future on the back of unmet needs.
During the reported quarter, NARI witnessed growth in revenues from its global VTE business on the back of commercial expansion and market development. The global VTE revenues were 138 million, up 21% year over year.
Emerging therapies business saw robust growth as well. The company recorded $8 million during the quarter, reflecting 66% year-over-year growth and 36% sequentially. Per the second-quarter earnings call, Inari Medical received PMA approval from the FDA for its second-generation stent delivery system, which is likely to improve a key component of the LimFlow System.
The company is currently progressing well with the limited market release of the LimFlow system in the United States. It has already signed several reimbursement deals for the system. NARI expects to start the full commercial release of the system in the fourth quarter of 2024.
During the second quarter of 2024, Inari Medical commenced the full commercial launch of VenaCore, its latest purpose-built device within the CBD toolkit for the treatment of acute and chronic venous diseases.
Inari Medical expects to showcase its PEERLESS data, which is one of the three randomized controlled trials (RCTs), in the fourth quarter of 2024. PEERLESS study evaluates patient outcomes using the FlowTriever device. The company is progressing well with the other two RCTs as well.
<h3>Margin Trend</h3>
In the quarter under review, Inari Medical&#39;s gross profit improved 19.7% to $125.8 million. The gross margin contracted 210 basis points (bps) to 86.3%.
Selling, general and administrative expenses rose 33.4% to $114.2 million. Research and development expenses increased 18.1% year over year to $24.9 million. The operating expenses of $148.3 million increased 38.9% year over year.
The operating loss totaled $22.4 million compared with $1.5 million in the year-ago period. Excluding acquisition-related costs of $1 million, acquired intangible asset amortization of $2.4 million, and change in fair value of contingent consideration liability of $5.7 million, adjusted operating loss in the second quarter was $13.3 million.
<h3>Financial Position</h3>
Inari Medical exited second-quarter 2024 with cash and cash equivalents and short-term investments of $109.7 million compared with $101.8 million at the first quarter of 2024-end.
Cumulative net cash used in operating activities at the end of second-quarter 2024 was $0.8 million compared to cumulative net cash provided by operating activities of approximately $7.7 million in the year-ago quarter.
<h3>Guidance</h3>
Inari Medical has raised its financial outlook for 2024.
For 2024, the company now expects revenues in the range of $594.5-$604.5 million (reflecting growth of 20.5%-22.5% from 2023) compared with the previous guidance of $592.5-$602.5 million. The Zacks Consensus Estimate is pegged at $599.1 million.
<h3>Our Take</h3>
Inari Medical exited the second quarter of 2024 with an improvement in overall revenues. However, earnings missed the Zacks Consensus Estimate. The business&#39;s product portfolio witnessed consistent improvement, which led to robust product adoption by its customers. The geographical performances were equally remarkable.
However, Inari Medical&#39;s lower gross margin and dismal bottom-line performances were disappointing. The company incurred an operating loss during the quarter, which raised our apprehension.
<div class="chart_embed">
<h3>Inari Medical, Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Inari Medical, Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/7b/1722436491.png" style="height:265px; width:580px" title="" />
Inari Medical, Inc. price-consensus-eps-surprise-chart | Inari Medical, Inc. Quote
</div>
<h3>Zacks Rank and Key Picks</h3>
Inari Medical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space that have announced quarterly results are&nbsp;Boston Scientific Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>),&nbsp;Hologic (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/holx#NASDAQ">HOLX</a>) and&nbsp;Universal Health Services&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uhs#NYSE">UHS</a>).
Boston Scientific reported second-quarter 2024 adjusted EPS of 62 cents, which beat the Zacks Consensus Estimate by 6.9%. Revenues of $4.12 billion surpassed the Zacks Consensus Estimate by 2.5%. It currently carries a Zacks Rank of 2 (Buy).
Boston Scientific has a long-term growth rate of 12.5%. BSX&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.
Hologic, carrying a Zacks Rank of 2 at present, has a long-term growth rate of 7.4%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 4.50%.
Hologic reported second-quarter 2024 adjusted EPS of $1.06, which beat the Zacks Consensus Estimate by 3.9%. Revenues of $1 billion surpassed the Zacks Consensus Estimate by 1.1%.
Universal Health Services reported second-quarter 2024 adjusted EPS of $4.31, which beat the Zacks Consensus Estimate by 27.9%. Revenues of $3.9 billion surpassed the Zacks Consensus Estimate by 1.5%. It currently carries a Zacks Rank of 1.
Universal Health Services has a long-term growth rate of 18%. UHS&#39; earnings surpassed estimates in each of the trailing four quarters, the average surprise being 14.58%.
<a href="https://www.zacks.com/stock/news/2313344/inari-medical-nari-q2-earnings-miss-revenues-increase-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2313344">To read this article on Zacks.com click here.</a>

Health Care

Markets

Analyst Ratings

Trading Ideas

General

HOLX

NARI

Inari Medical Q2 Earnings Miss, Revenues Increase Y/Y

Credit Acceptance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CACC#NASDAQ">CACC</a>) reported quarterly earnings of $10.29 per share which beat the analyst consensus estimate of $8.91 by 15.49 percent. This is a 3.74 percent decrease over earnings of $10.69 per share from the same period last year. The company reported quarterly sales of $538.200 million which beat the analyst consensus estimate of $479.028 million by 12.35 percent. This is a 12.62 percent increase over sales of $477.900 million the same period last year.

CACC

Credit Acceptance Q2 2024 Adj. EPS $10.29 Beats $8.91 Estimate, Sales $538.200M Beat $479.028M Estimate

Regal Rexnord (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRX#NYSE">RRX</a>) reported quarterly earnings of $2.29 per share which beat the analyst consensus estimate of $2.13 by 7.51 percent. The company reported quarterly sales of $1.55 billion which beat the analyst consensus estimate of $1.53 billion by 1.40 percent. This is a 12.49 percent decrease over sales of $1.77 billion the same period last year.

Regal Rexnord Q2 2024 Adj EPS $2.29 Beats $2.13 Estimate, Sales $1.55B Beat $1.53B Estimate

Tenable Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>) reported quarterly earnings of $0.31 per share which beat the analyst consensus estimate of $0.24 by 29.17 percent. The company reported quarterly sales of $221.20 million which beat the analyst consensus estimate of $218.51 million by 1.23 percent. This is a 13.41 percent increase over sales of $195.04 million the same period last year.

Tenable Holdings Q2 2024 Adj EPS $0.31 Beats $0.24 Estimate, Sales $221.20M Beat $218.51M Estimate

GFL Environmental (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFL#NYSE">GFL</a>) reported quarterly sales of $2.06 billion which met the analyst consensus estimate. This is a 42.36 percent increase over sales of $1.45 billion the same period last year.

GFL Environmental Q2 Sales CAD$2.06B Inline

Sunnova Energy Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) reported quarterly losses of $(0.27) per share which beat the analyst consensus estimate of $(0.63) by 57.14 percent. The company reported quarterly sales of $219.60 million which beat the analyst consensus estimate of $216.78 million by 1.30 percent. This is a 31.99 percent increase over sales of $166.38 million the same period last year.

NOVA

Sunnova Energy Intl Q2 2024 Adj EPS $(0.27) Beats $(0.63) Estimate, Sales $219.60M Beat $216.78M Estimate

NMI Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmih#NASDAQ">NMIH</a>) reported second-quarter 2024 operating net income per share of $1.20, which beat the Zacks Consensus Estimate by 15.4%. The bottom line increased 26.3% year over year. The quarterly results reflected higher premiums and net investment income, and increased persistency, which drove growth in the company&#39;s high-quality insured portfolio.
<h3>Operational Update</h3>
NMI Holdings&#39; total operating revenues of $162 million increased 13.3% year over year on higher net premiums earned (up 12%) and net investment income (up 25%). Revenues beat the Zacks Consensus Estimate by 2.1%.
Primary insurance in force increased 6.4% to $203.5 billion. Annual persistency was 85.4%, down 60 basis points (bps) year over year. New insurance written was $12.5 billion, up 9% year over year.
<div class="chart_embed">
<h3>NMI Holdings Inc Price, Consensus and EPS Surprise</h3>
<img alt="NMI Holdings Inc Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/99/1722441175.png" style="height:265px; width:574px" title="" />
NMI Holdings Inc price-consensus-eps-surprise-chart | NMI Holdings Inc Quote
Underwriting and operating expenses totaled $28.3 million, up 3.2% year over year. Insurance claims and claim expenses were $0.3 million, reflecting a drop of 90.4% year over year. The loss ratio was 0.2, which improved 210 bps year over year.
The adjusted expense ratio of 20.1 improved 160 bps year over year, while the adjusted combined ratio of 20.3 improved 80 bps year over year.
</div>
<h3>Financial Update</h3>
Book value per share, a measure of net worth, was up 17% year over year to $27.54 as of Jun 30, 2024.
NMI Holdings had $62.6 million in cash and cash equivalents, which decreased 35.2% from 2023 end. The debt balance of $414.2 million increased 4.2% from the end of 2023.
The annualized adjusted return on equity was 18.3%, which contracted 30 bps year over year.
Total PMIERs available assets were $2.8 billion. Net risk-based required assets totaled $1.7 billion at the end of second-quarter 2024.
<h3>Zacks Rank</h3>
NMIH currently carries a Zacks Rank #3 (Hold).
<h3>Performance of Other Insurers</h3>
The Travelers Companies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) reported second-quarter 2024 core income of $2.51 per share, which beat the Zacks Consensus Estimate by 25.5%.&nbsp; The bottom line skyrocketed from 6 cents earned in the year-ago quarter, driven by solid underlying results, net favorable prior year reserve development and higher net investment income, partially offset by higher catastrophe losses. Travelers&#39; total revenues increased 12.4% from the year-ago quarter to $11.3 billion, primarily driven by higher premiums. The top-line figure, however, missed the Zacks Consensus Estimate by 1%.
The Progressive Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>) second-quarter 2024 earnings per share of $2.65 beat the Zacks Consensus Estimate of $1.99. The bottom line improved more than five times year over year. Operating revenues of $18.3 billion beat the Zacks Consensus Estimate by 1.4% and increased 18.9% year over year.
Progressive&#39;s net premiums earned grew 19% to $17.2 billion and beat our estimate of $16.7 billion. Combined ratio improved 850 bps from the prior-year quarter&#39;s level to 91.9.
Selective Insurance Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sigi#NASDAQ">SIGI</a>) reported second-quarter 2024 operating loss of $1.10 per share against the Zacks Consensus Estimate of earnings of $1.56. The company had reported an operating income of 99 cents per share in the prior year quarter. The quarterly results reflected poor underwriting performance, unfavorable prior-year casualty reserve development and escalating costs, offset by higher premiums and net investment income.
Selective Insurance&#39;s total revenues of $1.2 billion increased 15% from the year-ago quarter&#39;s figure, primarily due to higher premiums earned, net investment income and net premiums written. The top line missed the Zacks Consensus Estimate by 1.3%.
<a href="https://www.zacks.com/stock/news/2313392/nmi-holdings-nmih-q2-earnings-and-revenues-beat-estimates?cid=CS-BENZ-FT-analyst_blog|earnings_article-2313392">To read this article on Zacks.com click here.</a>

NMIH

SIGI

NMI Holdings Q2 Earnings and Revenues Beat Estimates

Mid-America Apartment Sees 2024 Core AFFO $7.78-$8.06

CGNX

Cognex Expects Q3 Revenue of $225M-$240M, Slight Sequential Decrease From Q2 But Slight YoY Increase Excluding Moritex; Moritex To Contribute 10%-12% of Q3 Revenue; Adjusted Gross Margin Slightly Below 70%; Adjusted EBITDA Margin 16%-19%; Adjusted Effective Tax Rate 16%

Visitors to the so-called &#8220;Happiest Place on Earth&#8221; often find themselves in a scary scenario <a href="https://www.benzinga.com/topic/walt-disney-world">once their vacation ends</a>.
What Happened: About 24% of Disney-goers have gone into debt to finance their trip. 
According to a LendingTree <a href="https://www.lendingtree.com/debt-consolidation/disney-goers-debt-survey/#:~:text=Looking%20more%20broadly%20at%20the,so%20in%20the%20past%20year.">survey</a>, this figure rises to 39% among members of Gen Z and 45% among parents with children under 18. Parents of young children took on an average of $1,983 in Disney-related debt.
Still, theme parks remain Walt Disney Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) most profitable business segment.
The Burbank-based company, which struggled to <a href="https://www.benzinga.com/topic/disney-plus">turn a profit with streaming</a>, saw revenues of $8.4 billion at an operating margin of 27% in the second quarter of 2024 — that&#8217;s just its &#8220;experiences&#8221; (i.e., theme parks, hospitality, cruises) segment alone. 
Experiences made up more than 37% of Disney&#8217;s revenue and 59% of operating profit — higher than it was a year ago.
See Also: <a href="https://www.benzinga.com/news/large-cap/24/07/40080168/jerome-powell-finally-concedes-rate-cut-could-be-on-the-table-in-september-stocks-gold-rise-dollar">Jerome Powell Finally Concedes &#8216;Rate Cut Could Be On The Table&#8217; In September: Stocks, Gold Rise, Dollar Falls</a>
Why It Matters: Investors will pay close attention to several metrics ahead of Disney&#8217;s <a href="https://www.benzinga.com/quote/DIS/earnings">Aug. 7 third-quarter earnings</a>.
The theme park segment remains a bright spot, considering admission prices have steadily ticked up. <a href="https://allears.net/2024/03/09/new-study-reveals-disney-world-prices-have-increased-91-over-the-last-10-years/">According</a> to a study from AllEars, adult ticket prices have increased over 90% in the past decade.
A Disney World debtor <a href="https://www.tampabay.com/news/business/2024/07/31/disney-world-beckons-these-families-so-does-debt/#:~:text=A%20June%202024%20survey%20from,parkgoers%20with%20kids%20under%2018.">told</a> the Tampa Bay Times that the &#8220;once in a lifetime trip&#8221; was &#8220;worth it&#8221; even though it sent her thousands of dollars into debt.. 
Total park attendance increased 6% year-over-year in 2024&#8217;s first quarter and guests spent 6% more at the parks (per capita). Analysts noted that 2024 Q1 theme park results <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38651748/disney-q2-earnings-preview-could-taylor-swift-and-bluey-help-media-giant-beat-estim">were very strong</a>.
Disney&#8217;s Other Woes: Despite theme park success, Disney shares are trading more than 50% lower than its all-time high in 2021. Its share price is also down over 10% in the past two years.
Disney — which owns streaming services Disney+, ESPN+ and Hulu — has struggled in the streaming services with immense competition from the likes of Netflix, Amazon Prime Video, Max and Paramount. Disney+ and Hulu have had slow subscriber growth while Disney&#8217;s movie studio repeatedly bleeds money (although it did have a hit this year with Inside Out 2.)
Indeed, investors will look for updates on subscriber numbers for Disney+, ESPN+, and Hulu. This will also likely be compared to growth rates from competitors like Netflix and Amazon Prime Video. Additionally, investors will hope for margin expansion on this end.
Close attention will be paid to any management commentary that could signify a change in strategy in the streaming segment.
In 2023, Disney&#8217;s entertainment division represented 45% of company revenue but&nbsp;only&nbsp;11% of operating income. Disney&#8217;s direct-to-consumer streaming services made just $47 million in operating profit in 2024&#8217;s second quarter (better, though, than its $587 million loss a year prior and analyst estimates of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38675021/disney-direct-to-consumer-segment-profits-in-q2-operating-income-modestly-ahead-of-">a $100 million loss</a>.)
Also Read:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/06/39464286/disney-shareholders-could-experience-joy-as-inside-out-2-crushes-box-office-nears-1b-milest">Disney Shareholders Could Experience Joy As &#8216;Inside Out 2&#8217; Crushes Box Office, Nears $1B Milestone That Haunted Company In 2023</a></li>
</ul>

Equities

Disney World Puts 24% Of Travelers Into Debt: Conglomerate's Theme Parks Remain Popular, Other Segments Falter

Titan Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWI#NYSE">TWI</a>) reported quarterly earnings of $0.10 per share which missed the analyst consensus estimate of $0.24 by 58.33 percent. This is a 76.74 percent decrease over earnings of $0.43 per share from the same period last year. The company reported quarterly sales of $532.170 million which missed the analyst consensus estimate of $547.271 million by 2.76 percent. This is a 10.60 percent increase over sales of $481.176 million the same period last year.

Titan Intl Q2 2024 Adj. EPS $0.10 Misses $0.24 Estimate, Sales $532.170M Miss $547.271M Estimate

Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) reported financial results for the second quarter after market close on Wednesday. Here&#8217;s a look at the <a href="https://www.benzinga.com/pressreleases/24/07/n40080651/meta-reports-second-quarter-2024-results">key metrics from the quarter</a>.
Q2 Earnings: Meta reported second-quarter revenue of $39.07 billion, beating <a href="https://www.benzinga.com/calendars/earnings">analyst estimates</a> of $38.31 billion. The company reported second-quarter adjusted earnings of $5.16 per share, beating analyst estimates of $4.73 per share.
Meta has now beat analyst estimates on the top and bottom lines in six consecutive quarters, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Total revenues were up 22% on a year-over-year basis. Family daily active people were up 7% year-over-year to 3.27 billion. Ad impressions and average price per ad both jumped 10% year-over-year.
Costs and expenses came in at $24.22 billion, up 7% year-over-year. Capital expenditures came in at $8.47 billion. The company ended the quarter with $58.08 billion in cash, cash equivalents and marketable securities.
&#8220;We had a strong quarter, and Meta AI is on track to be the most used AI assistant in the world by the end of the year,&#8221; said Mark Zuckerberg, founder and CEO of Meta.
&#8220;We&#8217;ve released the first frontier-level open source AI model, we continue to see&nbsp;good traction with our Ray-Ban Meta AI glasses, and we&#8217;re driving good growth across our apps.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40076815/tech-stocks-on-track-for-best-session-in-5-months-ahead-of-fed-meeting-small-caps-target-h">Tech Stocks On Track For Best Session In 5 Months Ahead Of Fed Meeting; Small Caps Target Highest Close Since January 2022: What&#8217;s Driving Markets Wednesday?</a>
Outlook: Meta expects third-quarter revenue to be in the range of $38.5 billion to $41 billion versus estimates of $38.31 billion.
Meta still expects full-year 2024 total expenses to be in the range of&nbsp;$96 billion to $99 billion. The company expects full-year 2024 capital expenditures to be in the range of&nbsp;$37 billion to $40 billion, versus its prior guidance range of&nbsp;$35 billion to $40 billion.
&#8220;For Reality Labs, we continue to expect 2024 operating losses to increase meaningfully year-over-year due to our ongoing product development efforts and investments to further scale our ecosystem,&#8221; the company said.
Management will hold a conference call to discuss its quarterly results at 5 p.m. ET.
META Price Action: Meta Platforms shares were up about 33% year-to-date heading into the print. The stock was up 4.98% in after hours, trading at $498.50 at the time of publication Wednesday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/07/40073471/ai-workers-wont-come-just-for-the-money-and-they-certainly-wont-stay-for-it-report">AI Workers &#8216;Won&#8217;t Come Just For The Money, And They Certainly Won&#8217;t Stay For It&#8217;: Report</a></li>
</ul>
Photo: Rafapress/Shutterstock.
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