Yesterday #Meta has announced their third quarter 2022 results.
Key data points:
- Daily active people 2.93B (+4% Y/Y).
- Revenue -4% Y/Y to $27.7B ($27.4B expected).
- Operating margin 20% (-15pp Y/Y).
- Operating cash flow margin 35% (-14pp Y/Y).
- EPS $1.64 ($1.85 expected). Q4 guidance:
- Revenue -7% Y/Y.
Stock price from Oct 2021, $312.20, to Oct 2022, $114.20 a decrease of 65%!
This resulted in a loss of approximately $715 billion in market cap from its peak price to its after earnings lows.
Initially shares were up 8%, then plunged with Zuck’s commentary that they are increasing investments (CAPEX) in the #metaverse.
Third Quarter 2022 Financial Highlights:
Full report: https://investor.fb.com/investor-news/press-release-details/2022/Meta-Reports-Third-Quarter-2022-Results/default.aspx