Facebook Shares Jump on Revenue Beat [TheStreet.com]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: TheStreet.com
Facebook(FBGet ReportTheStreet islive bloggingFacebook reported revenue of $17.74 billion versus analyst estimates of $17.33 billion, while EPS of $1.71 missed an estimate of $1.74 a share.At last check Facebook shares were trading up 9.7% at $213.06. They finished the regular Wednesday session up 6.2% at $194.19.Facebook said it faced a period of "unprecedented uncertainty" and declined to provide financial guidance for the second quarter and full year."We expect our business performance will be impacted by issues beyond our control," Facebook said in a statement, "including the duration and efficacy of shelter-in-place orders, the effectiveness of economic stimuli around the world, and the fluctuations of currencies relative to the U.S. dollar."In the last three weeks of the first quarter, demand for ads and Facebook's ad pricing fell significantly, the company said.At the same time, "after the initial steep decrease in advertising revenue in March, we have seen signs of stability r
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