Facebook Stock Jumps As Quarterly Earnings A Slight Miss, Revenue Meets [Investor's Business Daily]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: Investors Business Daily
Related news Facebook ( FB ) reported first-quarter earnings Wednesday that were mostly in line with expectations, as monthly active users climbed 10% to 2.6 billion. Facebook stock jumped during after-hours trading The social media giant reported an adjusted profit of $1.71 per share on revenue of $17.737 billion. Wall Street expected earnings of $1.74 on revenue of $17.4 billion. The company reported earnings after the market close. Facebook stock jumped 9%, near 212, during after-hours trading on the stock market today . Several Wall Street equity analysts had cut their earnings and revenue estimates on Facebook and Twitter ( TWTR ) as the outlook on digital advertising has become less clear. Both Facebook and Twitter get about 98% of revenue from advertisers. Advertising often ends up as one of the first expenses cut in times of crisis. Facebook gave an update on Covid-19's impact on March 25. It revealed a weakening in its ad business in countries taking aggressive actions again
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