Meta Platforms (META) Tumbles On Earnings Miss - Will Shrink Some Teams
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Stifel Weighs in on Meta Platforms (META) Following Results
October 26, 2022 5:58 PM EDTStifel analyst Mark Kelley offers comments on Meta Platforms (NASDAQ: META) following earnings.
The analyst commented, "Meta reported slightly better 3Q22 revenue of $27.7bn vs consensus $27.4bn, with advertising revenue ahead of the Street, while Other and Reality Labs revenue were below.... More
Goldman Comments on Meta Platforms (META) Q3 2022 Earnings
October 26, 2022 4:38 PM EDTGoldman Sachs analyst Eric Sheridan comments "We would expect investors to have an initial negative reaction to META's Q3 22 earnings report with a mixed set of results. On the positive, FX-neutral advertising revenue growth of +3% YoY was better than feared and in the top end of the guided range. In... More
Meta stock craters over bleak forecast and expensive metaverse bets
October 26, 2022 4:09 PM EDTBy Katie Paul and Chavi Mehta
(Reuters) - Facebook parent Meta Platforms Inc on Wednesday forecast a weak holiday quarter and significantly more costs next year, sending shares down nearly 20% as investors voiced skepticism about the company's pricey metaverse bets.
The forecast knocked about $67 billion off Meta's stock market value in extended trade, adding to the more than half a trillion dollars in value already lost this year.
If Meta's after-hours stock rout is matched in Thursday's trading session, it will have been its deepest one-day loss since Feb. 2, when the company last issued a dismal forecast.
... MoreMeta Platforms (META) Misses Q3 EPS by 29c, Offers Guidance
October 26, 2022 4:06 PM EDTMeta Platforms (NASDAQ: META) reported Q3 EPS of $1.64, $0.29 worse than the analyst estimate of $1.93. Revenue for the quarter came in at $27.71 billion versus the consensus estimate of $27.57 billion.
Family daily active people (DAP) DAP was 2.93 billion on average for September 2022, an increase of 4% year-over-year.Family monthly active people (MAP) MAP was 3.71 billion as of September 30, 2022, an increase of 4% year-over-year.Facebook daily active users (DAUs) DAUs were 1.98 billion on average for September 2022, an increase of 3% year-over-year.Facebook monthly active users (MAUs) MAUs were 2.96 billion as of September 30, 2022, an increase of 2%... More