India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Big Tech companies are already generating significant revenue from AI. Microsoft expects to reach $10 billion in AI revenue by the next quarter, making it their fastest-growing area.</li>
<li>In the third quarter of 2024 alone Microsoft, Google, and Meta collectively spent over $42 billion on AI infrastructure, primarily on building data centers and purchasing computing equipment.</li>
<li>Companies are projecting continued high spending on AI into 2025 to meet growing demand. However, challenges remain, including supply constraints for AI chips</li>
</ul>


Big Tech companies are already generating significant revenue from AI. Microsoft expects to reach $10 billion in AI revenue by the next quarter, making it their fastest-growing area.
In the third quarter of 2024 alone Microsoft, Google, and Meta collectively spent over $42 billion on AI infrastructure, primarily on building data centers and purchasing computing equipment.
Companies are projecting continued high spending on AI into 2025 to meet growing demand. However, challenges remain, including supply constraints for AI chips


Thematic Report: AI Wave- Big Tech's Spending Spree

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Meta Platforms (Facebook) / Equity Bottom-Up

<ul><li>Meta Platforms, Inc. reported a robust second quarter for 2024, marking significant growth dynamics amid global expansions and technological advancements.</li><li>The company noted an increase in total revenue to $39.1 billion, a 22% year-over-year rise, primarily driven by the advertising segment.</li><li>The impressive surge in revenue is also backed by a solid performance across ad engagements and the continuous rollout of AI-driven services and innovations.</li></ul>

Meta Platforms, Inc. reported a robust second quarter for 2024, marking significant growth dynamics amid global expansions and technological advancements.The company noted an increase in total revenue to $39.1 billion, a 22% year-over-year rise, primarily driven by the advertising segment.The impressive surge in revenue is also backed by a solid performance across ad engagements and the continuous rollout of AI-driven services and innovations.

Meta Platforms: Strengthening Market Position in the Smart Glasses Market & Other Major Developments! - Financial Forecasts

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>Meta announced 2Q24 results: total revenue increased by 22% YoY to US$39.1bn, 2% ahead of Bloomberg consensus estimate; net income grew by 73% YoY to US$13.5bn, beating consensus estimate by 10%, primarily due to effective control in headcount-related expenses.</li><li>For 3Q24E, management expects total revenue to grow by 13-20% YoY to US$38.5-41.0bn, which is largely in line with consensus estimate (US$39.2bn) and remains resilient despite the high-base effect.</li><li>Despite stepped-up Capex investment, management maintains its FY24 full-year total expenses guidance unchanged at US$96-99bn, which should ease investor concern on its margin expansion trajectory in FY24. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meta announced 2Q24 results: total revenue increased by 22% YoY to US$39.1bn, 2% ahead of Bloomberg consensus estimate; net income grew by 73% YoY to US$13.5bn, beating consensus estimate by 10%, primarily due to effective control in headcount-related expenses.For 3Q24E, management expects total revenue to grow by 13-20% YoY to US$38.5-41.0bn, which is largely in line with consensus estimate (US$39.2bn) and remains resilient despite the high-base effect.Despite stepped-up Capex investment, management maintains its FY24 full-year total expenses guidance unchanged at US$96-99bn, which should ease investor concern on its margin expansion trajectory in FY24. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Meta (META US) - 2Q24 Earnings Beat; Intact FY24 Earnings Growth Outlook Despite AI Investment

AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Meta's Q2 revenue of $39.1B surpassed expectations, up 22% YoY. EPS jumped 73% YoY to $5.16, beating estimates.</li>
<li>Ad revenue within the Family of Apps rose 22% YoY, driven by online commerce and strong performance in Europe and the Rest of the World.</li>
<li>Q3 revenue forecasted between $38.5B and $41B. Meta’s AI investments are set to enhance ad delivery and support long-term growth, despite increasing CapEx.</li>
</ul>


Meta's Q2 revenue of $39.1B surpassed expectations, up 22% YoY. EPS jumped 73% YoY to $5.16, beating estimates.
Ad revenue within the Family of Apps rose 22% YoY, driven by online commerce and strong performance in Europe and the Rest of the World.
Q3 revenue forecasted between $38.5B and $41B. Meta’s AI investments are set to enhance ad delivery and support long-term growth, despite increasing CapEx.


Meta Surges 7% on Strong Q2 Report; Driven by Ad Growth, Q3 Forecast and AI Investments

<ul>
<li>Meta is expected to report a 58% YoY increase in EPS to $4.71, with revenue climbing 20% YoY to $38.29B, driven by robust ad performance.</li>
<li>Meta plans a 20% cut in Reality Labs' budget through 2026, aiming to save $3B while shifting focus to upcoming hardware production.</li>
<li>In Q1, increased daily active users and a 6% rise in average ad prices have boosted Meta’s ad revenue, despite heightened competition and regulatory pressures. Likely to continue.</li>
</ul>


Meta is expected to report a 58% YoY increase in EPS to $4.71, with revenue climbing 20% YoY to $38.29B, driven by robust ad performance.
Meta plans a 20% cut in Reality Labs' budget through 2026, aiming to save $3B while shifting focus to upcoming hardware production.
In Q1, increased daily active users and a 6% rise in average ad prices have boosted Meta’s ad revenue, despite heightened competition and regulatory pressures. Likely to continue.


[Q2 Earnings Preview] Meta's Ad Revenues Expected to Surge, But Rising Spend Remains a Concern

United States

Meta Platforms Inc. operates as a social technology company. The Company builds applications and technologies that help people connect, find communities, and grow businesses. meta Platform is also involved in advertisements, augmented and virtual reality.

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Meta Platforms (Facebook) (META US)

Thematic Report: AI Wave- Big Tech's Spending Spree

Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.

Sudarshan Bhandari

Meta Platforms: Strengthening Market Position in the Smart Glasses Market & Other Major Developments! - Financial Forecasts

Meta Platforms, Inc. reported a robust second quarter for 2024, marking significant growth dynamics amid global expansions and technological...

Baptista Research

Meta (META US) - 2Q24 Earnings Beat; Intact FY24 Earnings Growth Outlook Despite AI Investment

Overall, we raise FY24-26E total revenue forecast by 1-2% in view of the solid ad demand across verticals. We lift our TP by 5% to US$565.0 on 27x...

CMB International

Meta Surges 7% on Strong Q2 Report; Driven by Ad Growth, Q3 Forecast and AI Investments

Meta's Q2 revenue hits $39.1B (+22% YoY) with earnings at $5.16/share (+73% YoY). Shares climbed 7% after exceeding forecasts and offering a robust...

Mint Finance

[Q2 Earnings Preview] Meta's Ad Revenues Expected to Surge, But Rising Spend Remains a Concern

Meta to report Q2 earnings on 31/July, with expected EPS of $4.71 (+58% YoY) and revenue of $38.29B(+20% YoY). Investors look forward to strong ad...

Mint Finance

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Thematic Report: AI Wave- Big Tech's Spending Spree

​Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.

Sudarshan Bhandari

Meta Platforms: Strengthening Market Position in the Smart Glasses Market & Other Major Developments! - Financial Forecasts

Meta Platforms, Inc. reported a robust second quarter for 2024, marking significant growth dynamics amid global expansions and technological...

Baptista Research

Meta (META US) - 2Q24 Earnings Beat; Intact FY24 Earnings Growth Outlook Despite AI Investment

Overall, we raise FY24-26E total revenue forecast by 1-2% in view of the solid ad demand across verticals. We lift our TP by 5% to US$565.0 on 27x...

CMB International

Meta Surges 7% on Strong Q2 Report; Driven by Ad Growth, Q3 Forecast and AI Investments

Meta's Q2 revenue hits $39.1B (+22% YoY) with earnings at $5.16/share (+73% YoY). Shares climbed 7% after exceeding forecasts and offering a robust...

Mint Finance

[Q2 Earnings Preview] Meta's Ad Revenues Expected to Surge, But Rising Spend Remains a Concern

Meta to report Q2 earnings on 31/July, with expected EPS of $4.71 (+58% YoY) and revenue of $38.29B(+20% YoY). Investors look forward to strong ad...

Mint Finance

Big Tech companies like Microsoft are seeing massive revenue growth from AI, with projections of $10 billion in AI revenue by next quarter.