September 26, 2022
11 11 11 AM
Breaking News :
FireNews : Stocks making the biggest moves midday: Wynn Resorts, Planet Fitness, AMC, Lyft and more #FireNews365 FireNews : Edward Snowden granted Russian citizenship #FireNews365 FireNews : Ukraine war: Inside Bakhmut, the battered Donbas city holding off Putin’s troops #FireNews365 FireNews : Mali players fight each other at Basketball World Cup #FireNews365 FireNews : Ukraine war: Russia admits mobilisation errors, amid growing public opposition #FireNews365 FireNews : Uganda’s Ebola outbreak: Trainee doctors go on strike over safety fears #FireNews365 FireNews : Sri Lanka power cuts – wrong oil blamed #FireNews365 FireNews : Influential Sunni Muslim cleric Yusuf al-Qaradawi dies aged 96 #FireNews365 FireNews : Hurricane Ian forces Nasa to shelter Artemis Moon rocket #FireNews365 FireNews : Wall Street’s fear gauge hits highest level since June #FireNews365

FireNews : Facebook set to report fourth-quarter earnings after the bell #FireNews365

Facebook CEO Mark Zuckerberg speaks during a live-streamed virtual and augmented reality conference to announce the rebrand of Facebook as Meta, in this screen grab taken from a video released October 28, 2021.

Facebook | via Reuters

Facebook is set to report fourth-quarter earnings after the bell on Wednesday.

Here are the key numbers:

  • Earnings per share: $3.84, according to a Refinitiv survey of analysts
  • Revenue: $33.4 billion expected, according to Refinitiv
  • Daily Active Users (DAUs): 1.95 billion expected by analysts, according to StreetAccount
  • Monthly Active Users (MAUs): 2.95 billion expected by analysts, according to StreetAccount
  • Average Revenue per User (ARPU): $11.38 expected by analysts, according to Street Account

The report is Facebook’s first since changing the name of its parent company to Meta, which is a nod to the metaverse. CEO Mark Zuckerberg announced the name change in October following a series of troubling reports about Facebook that stemmed from leaked documents shared by a former employee with journalists, lawmakers and the Securities and Exchange Commission.

Facebook’s results come a day after Alphabet cruised past estimates, sending its stock higher on Wednesday. Despite a January stock slump across tech, the industry giants have delivered uplifting earnings reports, reminding investors of the power of their dominant businesses even in a challenging macro environment. In addition to Alphabet, Apple and Microsoft topped estimates on profit and revenue.

With the name change to Meta comes a new reporting structure. The company said in its last earnings report that it will break out its hardware division, Facebook Reality Labs, into a separate division. Its core business will be Facebook’s Family of Apps (FoA), including Instagram, Messenger and WhatsApp.

The company said it will provide historical segment results for full year 2019 through 2021, as well as quarterly results starting from the fourth quarter of 2020. The new structure will give investors a glimpse into the performance of Meta’s newest business, which Zuckerberg sees as the future of the company.

Meta will continue to report total advertising revenue and advertising revenue by user geography under the FoA group. Ads remain the way Meta will be generating the bulk of its money for the foreseeable future. Analysts are expecting total revenue growth of about 19% in the fourth quarter and a similar rate of expansion for all of 2022.

The company’s shares are down about 4% this year.

This story is developing. Check back for updates.

Subscribe to CNBC on YouTube.

WATCH: Facebook to get rid of facial recognition


Source link