The Facebook parent company posted $27.7 billion in revenue for the third quarter, higher than the $27.4 billion predicted but 4% less than the same period last year. Its earnings per share, which accounts for expenses, were $1.64 – lower than the $1.89 predicted.
Meta invested heavily in new products this quarter, with total costs and expenses up 19% year-on-year.
This comes as the tech industry and the market at large struggles with economic headwinds, including rising inflation and fears of a recession.
Meta's shares are trading about 60% lower than they were at the start of the year, wiping hundreds of billions off the company's value.
Facebook parent Meta #META reported its Q3 earnings on Wednesday meeting expectations on revenue and offering lighter than expected guidance for Q4.
Here are the most important numbers:
Revenue: $27.7 billion versus $27.4 billion expected
Earnings Per Share (EPS): $1.64 versus $1.89 expected
Facebook Daily Active Users (DAUs): 1.98 billion versus 1.86 billion expected
Facebook Monthly active users (MAUs): 2.96 billion versus 2.97 expected
Reality Labs operating loss: $3.67 billion versus $3.09 billion expected
Shares of the company fell more than 11% following the report.
#US #earnigns #market
Here are the most important numbers:
Revenue: $27.7 billion versus $27.4 billion expected
Earnings Per Share (EPS): $1.64 versus $1.89 expected
Facebook Daily Active Users (DAUs): 1.98 billion versus 1.86 billion expected
Facebook Monthly active users (MAUs): 2.96 billion versus 2.97 expected
Reality Labs operating loss: $3.67 billion versus $3.09 billion expected
Shares of the company fell more than 11% following the report.
#US #earnigns #market
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