Facebook (FB) Q3 earnings report
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Mark Zuckerberg is the Chairman of Facebook.
Erin Scott | Reuters
FacebookCompany will announce its third-quarter results after the bell on Monday. This is as it faces a flood of negative news coverage from the whistleblower’s trove of documents.
What analysts expect:
- Earnings Analysts expect $3.19 per Share, according to Refinitiv.
- Revenue $29.57 billion expected by analysts, according to Refinitiv.
- Daily Active Users (DAUs) 1.93 billion expected by analysts, according to StreetAccount.
- Monthly active users (MAUs),StreetAccount predicts that analysts will spend 2.93 trillion dollars.
- Average revenue per user (ARPU): $10.15 expected by analysts, according to StreetAccount.
Facebook’s latest quarter revenue growth is forecast at 37%, which shows it has the potential to continue making money from its huge user base.
All the media attention focused on Facebook recently stems from reports originally from The Wall Street Journal that were about internal research by Frances Haugen (an ex-employee).
Haugen shared with the Journal some documents that she had gathered during her time at Facebook. She then testified before a Senate panel about her experience at Facebook. Haugen released documents to other news outlets since then. This led to more articles.
The reportsFacebook’s awareness of numerous harms that its apps and services can cause, but it doesn’t fix them or fails to do so. Over the next few weeks, more documents will be posted daily.
Haugen started leaking documents, and then testifying. another whistleblower has submitted an affidavitWith allegations regarding Facebook’s behaviour, Sophie Zhang (previous whistleblower) has once again spoken up against theCompany
Facebook’s meeting with analysts Monday afternoon on Monday will mark Mark Zuckerberg’s first appearance as CEO publicly since Haugen released documents. Zuckerberg responded to some claims by Haugen, the Journal and others in an interview. Facebook postOctober 5.
Investors could have additional reasons for concernInformation about financial statements of the company.
Rival social media apps SnapLast week Snap reported third quarter earnings, which fell short of expectations for revenue and also issued disappointing guidance for the fourth quarter. Snap has announced privacy reforms AppleThe company’s advertising business was disrupted by the introduction of the iPhone operating system in April. Snap explained to investors that global supply chain disruptions and labor shortages have also reduced advertising demand.
Snap shares plummeted 27%The report dragged down many other businesses in the sector. Facebook TwitterEach dropped by about 5%.
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