September 28, 2022

ModularPhonesForum

Complete News World

The owner of the Facebook Meta site delivered surprisingly good results - the stock price rose sharply in the aftermarket

The owner of the Facebook Meta site delivered surprisingly good results – the stock price rose sharply in the aftermarket

According to average analysts, expectations for the Meta Quarterly Report late Thursday night after the stock market closed, were a trading volume of $28.32 billion, and a result of $2.56 per share. The result shows a slightly lower-than-expected turnover of $27.91 billion, and a result of $2.72 per share, better than expected.

Revenue growth of seven percent compared to the same quarter last year is the weakest since the company listed on the stock exchange in 2012, according to Variety.

Equally important is that Facebook has reversed the negative trend and can now signal an increase in the number of users per day. In March of this year, an average of 1.96 billion people used Facebook daily, up four percent from March of last year.

On a monthly basis, Facebook had 2.94 billion active users in March, up three percent from the same month last year.

For the current quarter, guidance from the company is for revenue of $28-30 billion, better than the first quarter.

See also  Dangerous malware steals passwords - Norway affected

Faith lost

The market did not believe in palmita for a long time, and the share fell steadily from the top in August of last year, dropping by more than half. In the past three weeks alone, the share has fallen by about 20 percent, and on Wednesday the share has fallen by about 5 percent in normal trading, that is, before the results are presented.

Investors fear a repeat of the previous figure three months ago. Then we sent disappointing results, with fewer users and bleak prospects sending the stock down 26 percent and Flying in the blink of an eye more than 2000 billion shareholder value.

Tighter market conditions

Tech companies have struggled really hard lately in the generally tough stock market, with high inflation and fears of too high interest rates. The Nasdaq tech index, for example, is down 20 percent so far this year, while the Dow Jones and S&P 500 are down eight and 12 percent, respectively, in the same period.

Tuesday night’s results from Alphabet, which owns Google, among other things, were a serious warning in this sense. Alphabet delivered marginally weaker than expected, but posted aggressively on the exchange before and after the report. The little straw was Microsoft, which also reported on Tuesday, which on Wednesday was rewarded with a sharp rise in the stock market for slightly better than expected results.

Alphabet has been penalized for the disappointing advertisement in the Youtube subsidiary. Like Alphabet/Youtube, Meta is completely dependent on ad sales on its platforms, and in the first quarter Meta reported slightly lower ad revenue than expected.

Meta itself is happy to highlight the monetization potential of the video service Reels, which Facebook users are gradually becoming familiar with, which is a competitor to Tiktok.

Analysts and investors will also be keeping a close eye on any news about how Apple’s new iPhone security settings will affect the Meta. There will also be a request for information on how the war in Ukraine and sanctions against Russia will affect Meta.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.