TMTB: META First take
META: Q1 growth of 27% missed 28% bogey but beat street at 26%. Big miss is the guide coming in at 18% at the mid point vs street at 20% and buyside 22%. Low end of opex outlook also revised higher which wasn’t expected. Capex also up.
Opex revised higher to 96-99B vrom 94-99B and capex to 35-40B from 30-37B.
A trifecta of unexpected misses - need to re-e…
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