Facebook Inc. Earnings Report (Q3 2021)

Facebook Inc. reports a steady set of financial results for Q3 2021, narrowly missing revenue expectations.
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Facebook Inc. reported a stable set of numbers in its latest earnings report, despite missing analyst expectations on revenue figures.

Total revenue for the company came in at $29.01 billion, with analysts expecting $29.57 billion for this number. Advertising revenue made up $28.27 billion (97.4%) of this figure, which is a smaller proportion than Q3 2020.

Costs and expenses was $18.5 billion, up roughly $5 billion from this time last year.

Earnings per share (EPS) was $3.22 (vs $3.19 per share expected by analysts). This represents a 19% growth, year-on-year.

On average in September 2021, daily active users reached 1.93 billion on average – a growth of 6% year on year. Analysts were expecting this figure to be 1.93 billion also.

Monthly active users in the same period were 2.91 billion on average – also growing 6% year on year. Analysts were expecting 2.93 billion monthly active users.

Facebook also bought back $14.37 billion of their Class A common stock in Q3 2021, with cash, cash equivalents and marketable securities coming in at $58.03 billion.

In respect of Q4 financial outlooks, Facebook said in a press release:

“We expect fourth quarter 2021 total revenue to be in a range of $31.5 billion to $34 billion. Our outlook reflects the significant uncertainty we face in the fourth quarter in light of continued headwinds from Apple’s iOS 14 changes, and macroeconomic and COVID-related factors. In addition, we expect non-ads revenue to be down year-over-year in the fourth quarter as we lap the strong launch of Quest 2 during last year’s holiday shopping season.”

Shares of Facebook Inc. slightly climbed in the Monday afterhours market, but at the time of writing on Tuesday, shares have fallen 5% ($16) to $312.

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