Meta and Barclays report divergent Q3 earnings results

Meta Platforms has scheduled its third-quarter earnings report for October 21, marking its earliest Q3 release in a decade. The early reporting schedule is viewed as a bullish move amid growing enthusiasm for the company’s Muse AI models.

In contrast, Barclays reported a third-quarter profit miss, with pre-tax profit coming in 4% below consensus. The shortfall was primarily driven by a 21% decline in fixed income, currencies, and commodities (FICC) trading, which accounted for most of the investment bank’s income deficit. While equities trading exceeded forecasts by 18%, the weakness in FICC impacted overall results.

Despite the miss, Barclays reported growth in UK retail and corporate lending, and loan impairments were 14% below forecasts. Analysts from UBS and RBC Capital Markets maintained positive ratings on the stock, noting that it remains undervalued despite restructuring costs and seasonal revenue challenges.