Superman (META) reported fourth-quarter 2022 earnings today after the bell, and Facebook’s parent company beat key revenue expectations amid a tough ad market.
Here’s what the key numbers look like, compared with analyst estimates compiled by Bloomberg.
Q4 revenue – $32.17 billion actual vs $31.65 billion expected
Advertising revenue – $31.25 billion actual vs $30.86 billion expected
Adjusted earnings per share (EPS) – $1.76 actual vs $2.26 expected
Facebook Daily Active Users (DAU) – 2 billion actual vs 1.98 billion expected
Application Pools Daily Active Users (DAUs) – 2.96 billion actual vs 2.92 billion expected
Actual Laboratory Operational Loss – -4.28 billion dollars actual vs -3.99 billion dollars expected
The company’s shares were up about 14% in after-hours trading.
These numbers close out a particularly difficult year for Meta, which also owns Instagram and WhatsApp. In 2022, the company’s stock has fallen about 63% as the social media giant grapples with increasing competition from TikTok, high inflation and a muted digital advertising market.
Snap Rivals (SNAP) earnings report yesterday, just enough met Wall Street’s expectations for revenue and DAU, and hinted at a likely revenue decline in Q1 2023. Snap shares fell about 13% after the report.
Meta has a lot of moving parts
In today’s earnings report, Meta made a notable announcement of a $40 billion stock buyback. It’s a strong move, as the company laid off 11,000 workers in November and more jobs are being created. report on the table even now. Furthermore, the company’s C-suite has been reshuffled significantly until last year, with longtime COO Sheryl Sandberg official left the company in September.
It’s been a solid day for Meta, which report won a lawsuit against the Federal Trade Commission (FTC) this morning, getting the green light to buy developer VR Inside, the company behind the fitness app Supernatural. The FTC has the option of appeal and will likely continue to scrutinize Meta’s future transactions under Chairman Lina Khan in the future.
Allie Garfinkle is a Senior Technology Correspondent at Yahoo Finance. Follow her on Twitter at @agafinks and more LinkedIn.
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