|
Meta Earnings — If anyone is looking for Mark Zuckerberg today, good luck because after yesterday’s earnings report, he’s sure to have a long and busy day of crying in his basement.
Surprisingly, the numbers were even worse than the company’s name change a few months back. Not great for shareholders, but it’s what the rest of us have all been waiting for.
Nearly everything missed expectations. Revenue came in at $33.7bn vs $33.4bn expected, but earnings sat at only $3.67 while analysts were hoping for $3.84.
Daily active users missed by about 20mm, showing only (lol, only) 1.93bn users per day. Monthly active users came in below too at just (just) 2.91bn. Absolutely ridiculous, imagine having almost 2bn people use your products every single day and a bunch of suits on Wall Street telling you it’s still not enough.
It only got worse from there. Executives expect sales to come in at $27-$29bn rather than the $30.2bn traders wanted. This next part barely makes any sense, but anyway, Zuck somehow sat there with a straight face and told analysts that supply chain issues caused disruptions for the firm.
It’s like they’re addicted to bullsh*t, also claiming earnings were down on account of users shifting to products that “monetize at lower rates.” In other words, “we can’t monetize like we used to.”
While Zuck cries in his basement, Tim Appl- I mean, Cook, is laughing on his throne. Meta cited Apple’s privacy changes as a major hindrance for the quarter, along with macroeconomic pressures like inflation. Shares were annihilated after hours, losing 23%.
I guess Zuck & Co. really leaned into the firm’s core competency of causing depression yesterday, this time among investors instead of just teenagers that use their platforms.
|
Assumenda provident vel eveniet dolorem non commodi et. Voluptas id repellendus provident consectetur. Est itaque aliquid omnis nihil nesciunt et quod. Deleniti illum porro et aut aut et velit.
Recusandae aut omnis laboriosam. Totam corrupti aliquid corporis impedit alias odit aspernatur. Quia dolorem et qui rem necessitatibus voluptas aut iste.
Quas sit ullam occaecati fuga. Vel illum ut libero eos soluta sed repellat.
Ut ut aut quia veritatis. Earum qui id in. Aut enim sed sint recusandae eligendi et. Aut in aut repellendus et modi dolore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...