Tuesday, May 24, 2022

The saddest day for Mark Zuckerberg; Facebook shares plunge 20% after disappointing earnings report…

Facebook shares tumbled more than 20% in extended trading on Wednesday after the company reported disappointing earnings, gave weak guidance and said user growth has stagnated.

Here are the results:

  • Earnings per share: $3.67 vs $3.84 expected, according to a Refinitiv survey of analysts
  • Revenue: $33.67 billion vs $33.4 billion expected, according to Refinitiv

Facebook also missed estimates with user numbers:

  • Daily Active Users (DAUs): 1.93 billion vs 1.95 billion expected by analysts, according to StreetAccount
  • Monthly Active Users (MAUs): 2.91 billion vs 2.95 billion expected by analysts, according to StreetAccount
  • Average Revenue per User (ARPU): $11.57 vs $11.38 expected by analysts, according to Street Account

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