Facebook Results
Third-quarter results beat, but guidance worries. The stock falls -3% in the aftermarket.
Key numbers vs. consensus (Bloomberg):
- Revenue $34,146M (+23% YoY) vs. $33,520M estimate and $32B/$34.5B guidance.
- EBIT $13.748M (+143%) vs. $11.380M
- EBIT $11,583M (+164%) vs. $9,560M estimated.
Monthly active users reached 3,050M vs. 3,030M in the previous quarter and in line with market expectations.
in line with market expectations. Average revenue per ad falls less than estimated (-6% vs. -16% in the previous quarter and -9% estimated) and
the number of ads increased more than expected (+31% vs. +34.0% in the previous quarter and +29.6% estimated).
View of Facebook’s results
Figures beat estimates in the quarter and user numbers deliver. However, the Company is concerned about the economic slowdown in the coming year. Uncertain environment will weigh on advertising. In addition, cost guidance ($94,000M/$99,000M), also for 2024, beats estimates and that causes a -3% drop for value in the aftermarket.