Social media giant Facebook Inc. reported third-quarter financial results after market close Monday. Here are the key takeaways from the report. What Happened Facebook reported third-quarter revenue of $29 billion, up 35 percent year-over-year. The revenue total was shy of analysts’ estimates of $29.6 billion. Advertising revenue for the company was $28.3 billion, up 33 percent year-over-year. The company’s other business segment had revenue of $734 million, up 195 percent year-over-year. Facebook’s earnings per share of $3.22 beat the Street consensus of $3.19. The company reported daily active users of 1.93 billion and monthly active users of 2.91 billion, both up 6 percent year-over-year. What’s Next Facebook is guiding for fourth-quarter revenue to be in a range of $31.5 billion to $34 billion, shy of Street estimates of $34.9 billion. The third-quarter miss and fourth-quarter guidance follow comments made in the company’s second-quarter report on the second half seeing decelerated growth due to …
Facebook Q3 Earnings Takeaways: Revenue Miss, Weak Guidance, New Names For 2 Units
October 26, 2021
admin
0 Comment