Facebook shares spike on better-than-expected quarterly earnings

3 yıl önce

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Mark Zuckerberg told the world last October that he was rebranding Facebook to Meta as the company pushes toward the metaverse.

Facebook | via Reuters

Shares of Facebook parent Meta jumped in extended trading on Wednesday after the company reported earnings that topped estimates even as revenue disappointed.

Here are the results.

Earnings per share: $2.72 vs $2.56 expected, according to a Refinitiv survey of analystsRevenue: $27.91 billion vs $28.2 billion expected, according to Refinitiv

Wall Street is also watching other key numbers in the Meta report:

Daily Active Users (DAUs): 1.96 billion vs 1.95 billion expected, according to StreetAccountMonthly Active Users (MAUs): 2.94 billion vs 2.97 billion expected, according to StreetAccountAverage Revenue per User (ARPU): $9.50 expected, according to StreetAccount

The stock was up 13% after hours.

Meta reported daily active users (DAUs) on Facebook that beat analyst estimates after reporting its first ever decline in users on record last quarter. DAUs grew to 1.96 billion in Q1, up from 1.93 billion in Q4.

Still, the company fell below estimates for monthly active users (MAUs) at 2.94 billion versus the 2.97 billion analysts expected.

For the second quarter, Facebook forecast revenue of $28 billion to $30 billion, trailing the $30.6 billion estimate of analysts surveyed by Refinitiv.