** Shares of Meta Platforms META.O are down 2.8% in afternoon trading, with broader mkt also selling off. Meta is due to report results including higher yr-over-yr qtrly rev after the closing bell

** Analysts expect Q1 rev of $41.39 bln vs $36.46 bln in the yr-ago period and they expect EPS of $5.27/shr vs $4.71 a yr ago, according to LSEG

** Daniel Morgan, senior portfolio manager at Synovus Trust Company, said in a note that investors want to know how tariffs could impact digital advertising spend rates, and they will also pay attention to any comments on capital spending

** Meta on Tuesday announced an application programming interface in a bid to woo businesses to more easily build AI products using its Llama artificial-intelligence models

** Also on Tuesday, Snap SNAP.N said it will not issue a second-quarter financial forecast, citing economic uncertainty

** Analyst recommendations on META include 65 "strong buy" or "buy" ratings, six "hold" ratings and two "sell" ratings

** The median 12-mo PT is $695; the stock was last at $539

** Including the session move, META is down 7.6% YTD compared with a roughly 10% decline in the Nasdaq .IXIC

(By Caroline Valetkevitch)

((caroline.valetkevitch@thomsonreuters.com))