Meta Platforms rises as Credit Suisse cuts estimates, but says news flow will 'get better'
Justin Sullivan

Meta Platforms (NASDAQ:META) shares rose on Tuesday as investment firm Credit Suisse cut its earnings estimates, but said the news flow for the tech giant should "get better from here."
Analyst Stephen Ju lowered his earnings per share estimates for 2022 and 2023 to $13.74 and $14.24, down from $14.25 and $15.25, but noted that there is the potential for "better than-expected ad revenue growth" in some products such as Facebook Shops, Search in Marketplaces, even if there are worries over the monetization of Reels.
"Reels monetization will hence be less about user demand but rather a function of ongoing user experience improvement through investments in AI and ensuring [small and medium business] adoption in lockstep with larger advertisers," Ju wrote in a note to clients.
Nonetheless, monetization of Reels was recently highlighted as a priority for the second-half by Chris Cox, the company's Chief Product Officer.
Meta Platforms (META) gained almost 1% to $168.80 in premarket trading.
The Mark Zuckerberg-led Meta Platforms (META) is set to report second-quarter results on July 27 and Ju added that he is expecting an "in-line" quarter, with the potential for growth to move lower in the second-half of the year due to worries about the global economy and "flattish" ad budgets. 
A consensus of analysts expect Meta (META) to earn $2.60 per share on $29.05B in revenue for the second quarter.
Earlier this month, Meta Platforms (META) said it would let Facebook users have up to five different profiles under their Facebook account, a major change in how users can use the platform.
https://seekingalpha.com/news/3857189-meta-shares-edge-up-facebook-to-allow-individuals-to-have-multiple-user-profiles