Facebook shares spike on better-than-expected quarterly earnings
Mark Zuckerberg told the world last October that he was rebranding Facebook to Meta as the company pushes toward the metaverse.
Facebook | via Reuters
Shares of Facebook parent Meta jumped in extended trading on Wednesday after the company reported earnings that topped estimates even as revenue disappointed.
Here are the results.
- Earnings per share: $2.72 vs $2.56 expected, according to a Refinitiv survey of analysts
- Revenue: $27.91 billion vs $28.2 billion expected, according to Refinitiv
Wall Street is also watching other key numbers in the Meta report:
- Daily Active Users (DAUs): 1.96 billion vs 1.95 billion expected, according to StreetAccount
- Monthly Active Users (MAUs): 2.94 billion vs 2.97 billion expected, according to StreetAccount
- Average Revenue per User (ARPU): $9.50 expected, according to StreetAccount
The stock was up 13% after hours.
Meta reported daily active users (DAUs) on Facebook that beat analyst estimates after reporting its first ever decline in users on record last quarter.
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