Facebook Stock Crashes after Earnings
Facebook Stock beat on top and bottom lines, but the stock fell more than 7% on Wednesday after the company reported rising costs and expenses and a narrowing operating margin.
Here are the key numbers:
- Earnings (EPS): $2.56 vs. $2.53 per share forecast by Refinitiv.
- Revenue: $21.08 billion vs. $20.89 billion forecast by Refinitiv.
- Daily active users (DAUs): 1.66 billion vs. 1.65 billion forecast by FactSet.
- Monthly active users (DAUs): 2.5 billion vs. 2.5 billion forecast by FactSet.
- Average revenue per user (ARPU): $8.52 vs. $8.38 forecast by FactSet.
Facebook’s full-year 2019 costs and expenses came in at $46.71 billion, up 51% compared to its total in 2018. That coincides with a drop in the company’s operating margin, which fell from 45% in 2018 to 34% in 2019.
Source: CNBC
