FB stock

Facebook Meta Platforms Inc. is the latest tech giant to feel an economic pinch. On Wednesday, it reported its slowest sales growth in a decade and issued.

Snap Inc. SNAP,warned of a “challenging operating environment” when it reportedresults last week, though Pinterest Inc. PINS,shares also soared after earnings on Wednesday. “Our guidance assumes foreign currency will be approximately a 3% headwind to year-over-year growth in the second quarter, based on current exchange rates.” He added that the company’s push into metaverse will also boost revenue, especially in advertising. Meta issued a second-quarter revenue forecast of $28 billion to $30 billion, while analysts were forecasting $30.7 billion. “This outlook reflects a continuation of the trends impacting revenue growth in the first quarter, including softness in the back half of the first quarter that coincided with the war in Ukraine,” Meta Chief Financial Officer David Wehner said in a statement announcing the results. “The revenue headwinds” will likely lead to a slowdown in investments, Meta Chief Executive Mark Zuckerberg said in a webcast presentation with analysts late Wednesday.

Meta, the company formerly known as Facebook, reported earnings after the bell. Here are the results.

Sandberg said that though finalized text of the DMA has not been made public, it was generally in line with expectations. Facebook's family of apps, including the core app, Instagram and WhatsApp, accounted for 97.5% of revenue in the quarter. In the family of apps business, net income dropped 13% from a year earlier to $11.48 billion. It expects most of that expense growth to be driven by its family of apps segment, followed by Reality Labs. Snap CEO Evan Spiegel called the first quarter "more challenging than we had expected." The company said some advertisers had paused advertising campaigns after Russia's invasion of Ukraine in February. Google-owned YouTube grew just 14% in the first quarter, far below the 25% analysts had expected. Meta updated investors for the first time since a brutal fourth-quarter earnings report in February sent the stock down 26%, its worst day ever. But if the stock continues its climb on Thursday and ends the trading day up more than 19.1%, it would be its second-best day ever and its biggest gain since July 2013. She said she expects the regulatory environment to continue to be a "real challenge" for the whole industry. Reality Labs lost $2.96 billion in the period compared with a loss of $1.83 billion in the first quarter of 2021. The after-hours rally on Wednesday still leaves the stock way down for the year. For the second quarter, Facebook forecast revenue of $28 billion to $30 billion, trailing the $30.6 billion estimate of analysts surveyed by Refinitiv. The company said in the release that the guidance takes into account continued trends from the first quarter, including soft revenue growth that "coincided with the war in Ukraine."

Shares surged more than 16% in late trading after Facebook parent company Meta Platforms Inc. reported 1.96 billion daily users for its flagship platform, a ...

Shares surged more than 19% in late trading after Facebook parent company Meta Platforms Inc. reported 1.96 billion daily users for its flagship platform, a return to growth after the first-ever decline in the December quarter. Facebook’s main social network added more users than projected in the first quarter, potentially staving off concerns that the company is losing momentum as a new generation flocks to younger sites like TikTok.

Meta's employee growth has exceeded revenue growth over the last several quarters indicating thinner EBITDA margins. Read more about FB stock here.

Facebook rebounded from a drop in users early this year and its parent Meta posted a profit ahead of Wall Street targets, defying low investor expectations ...

Analysts on average were expecting current-quarter revenue of $30.63 billion. Meta has also barred advertisers in Russia from creating and running ads anywhere in the world. Meta forecast second-quarter revenue between $28 billion and $30 billion. Russia banned Facebook and Instagram in March, finding Meta guilty of "extremist activity" amid Moscow's crackdown on social media during its invasion of Ukraine. Meta's messaging service WhatsApp is not affected by the ban. On the call, Zuckerberg also echoed previous warnings about the challenges of engagement shifting toward features like its short video offering Reels, which generates less revenue than other ad formats. "However, growth in monthly active users is slowing quickly.