The $3.5 billion range ($36.5 billion to $40 billion) compares to a $2.5 billion range the company typically offers in its quarterly revenue forecast.
Susan Li, Meta's finance chief, told analysts on the earnings call that the reason for the change is the unpredictability in the Middle East due to the Israel-Hamas war.
At the mid-point of its guidance range, Meta would be expecting revenue of $38.25 billion, compared to the average analyst estimate of $38.85 billion, according to LSEG, formerly known as Refinitiv.
For the third quarter, Meta beat on the top and bottom lines, boosting its shares in extended trading on Wednesday.
Meta's commentary surrounding the Middle East conflict, which escalated this month after Hamas attacked Israel, follows cautionary statements from Snap on Tuesday.
Persons:
Susan Li, Li, Meta, Joe Biden
Organizations:
Meta, White
Locations:
Israel, Ukraine, Russia, Gaza