Facebook soars after reporting 'stability' in ad revenue after fall in March [CNBC]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: CNBC
VIDEO10:25Facebook CFO: 'We had a steep decline in ad revenue in March'Closing Bellfirst-quarter results (EPS):Analysts surveyed by Refinitiv expect $1.75 in earnings per share and $17.41 billion in revenue for the first quarter. However, comparing Facebook's results against analysts' estimates is not straightforward given the coronavirus pandemic's impact on economies around the world.Facebook CEO Mark Zuckerberg said he remains very concerned that the economic fallout of the coronavirus pandemic will last longer than people are currently anticipating."While there are massive societal costs from the current shelter-in-place restrictions, I worry that re-opening certain places too quickly before inaction rates have been reduced to very minimal levels will almost guarantee future outbreaks and worse longer-term health and economic outcomes," Zuckerberg said.Facebook said it is now seeing signs of stabilization after seeing an initial steep decrease in advertising revenue in March due t
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