Facebook Chairman and CEO Mark Zuckerberg testifies at a hearing of the House Financial Services Commission in Washington on October 23, 2019.
Erin Scott | Reuters
The results are as follows.
- Revenue: $ 3.22 vs Analysts expect $ 3.19 per share, according to Refinitiv.
- Revenue: According to Refinitiv, it’s $ 29.01 billion, compared to what analysts expected at $ 29.57 billion.
- Daily Active Users (DAU): According to StreetAccount, analysts predicted 1.93 billion vs. 1.93 billion.
- Monthly Active User (MAU): According to StreetAccount, analysts expected 2.91 billion vs. 2.93 billion.
- Average Revenue Per User (ARPU): According to StreetAccount, analysts expect $ 10.00 vs. $ 10.15.
The company announced plans to split Facebook Reality Labs into its own reporting segments starting in the fourth quarter. The unit focuses on hardware, augmented reality, and virtual reality products. The company’s other revenue segments come from the app family, which includes Facebook, Instagram, Messenger, WhatsApp and other services.
Facebook expects its investment in Facebook Reality Labs to reduce its overall operating profit in 2021 by approximately $ 10 billion.
The company’s revenue increased 35% year-on-year. Facebook’s net income increased 17% from $ 7.8 billion last year to $ 9.2 billion.
According to the company, fourth-quarter sales are expected to be between $ 31.5 billion and $ 34 billion. Analysts expected sales of $ 34.8 billion. Facebook said the forecast “reflects the significant uncertainties it faces in the fourth quarter, given the ongoing headwinds of Apple’s iOS 14 changes, macroeconomic and COVID-related factors.” Said.
Apple introduced a privacy change earlier this year, adding a prompt to prevent users from being targeted by your app’s ads.
Revenues from other segments of Facebook, including consumer hardware such as the Oculus virtual reality headset, grew 195% to $ 734 million, ahead of Street Account’s consensus estimate of $ 477 million. ..
The company’s $ 9.55 billion free cash flow was below the $ 9.90 billion Street Account consensus.
According to Facebook, the app family had 3.58 billion monthly users in the third quarter, up from 3.51 billion in the second quarter. This metric is used to measure Facebook’s total user base across the main apps Instagram, Messenger, and WhatsApp.
However, Facebook’s recent attention comes from a series of reports on internal investigations (originally from The Wall Street Journal) published by former employee Frances Haugen.
Haugen initially shared some of the documents he obtained while on Facebook with the journal and appeared earlier this month in front of the Senate panel to testify about his experience at the company. Since then, Haugen has released documents to several more media outlets, leading to additional news articles.
Report Indicates that Facebook is aware of the many harms that apps and services can cause, but has not fixed the issue or is struggling to address it. More documentation will be shared daily over the next few weeks.
The call to Facebook analysts on Monday afternoon is the first time CEO Mark Zuckerberg has spoken publicly since Haugen began publishing the document.Zuckerberg addressed some of the claims made by Haugen and the Journal Facebook post October 5th.
Facebook (FB) Q3 2021 Revenue Report
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