Shares in Meta, Facebook’s holding company, melted this Thursday (3), after the company released its financial statement. Stocks have already dropped more than 24% since Wall Street opened – if it ends the trading session at that level, it would be the biggest daily loss since its debut on the stock exchange in May 2012.
The company announced a drop, for the first time, in the number of daily active users compared to the previous quarter. The revenue forecast for the first quarter was between US$ 27 billion and US$ 29 billion. Analysts on average expected $30.15 billion, according to Refinitiv data.
Roberto Attuch, founder and CEO of Omniinvest, explains that technology companies in the United States have their financial statements focused on the future, even the most consolidated, such as the Facebook holding company.
“In other words, the market seeks to anticipate the profit of these companies in a few years. And as Meta announced a quarterly result with forecasts of poor performance, shareholders chose to sell their shares.”
Meta said it expects current-quarter revenue to fall short of analysts’ expectations after changes by Apple to improve user privacy hampered the digital advertising business.
The owner of the Iphone changed its operating system, giving users the means to control permissions to monitor their online behavior, making it difficult for advertisers to know their market and develop new products.
At around 1 pm, Brasília time, Meta’s shares were priced at US$ 243.49, and were down 24.62%.
Financial data
Meta’s total revenue, mostly from ad sales, rose in the fourth quarter to $33.67 billion from $28.07 billion in the year-ago period, roughly in line with average analyst expectations. $33.4 billion, according to Refinitiv data.
The net loss of the Reality Labs division, Meta’s augmented and virtual reality operation, was US$10.2 billion for the year 2021, compared to a negative result of US$6.6 billion in the previous year.
Source: CNN Brasil
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