Meta Platforms Inc (NASDAQ:FB) shares are trading lower after the company reported worse-than-expected fourth-quarter EPS results and issued guidance.
Meta Platforms reported quarterly earnings of $3.67 per share which missed the analyst consensus estimate of $3.84. The company also reported quarterly sales of $33.67 billion which beat the analyst consensus estimate of $33.38 billion by 0.87 percent. This is a 20% increase over sales of $28.07 billion in the same period last year. Meta reported 2.91 billion monthly active users for Facebook… Read More
"We had a solid quarter as people turned to our products to stay connected and businesses continued to use our services to grow," said Mark Zuckerberg, Meta founder and CEO.
"I'm encouraged by the progress we made this past year in a number of important growth areas like Reels, commerce, and virtual reality, and we'll continue investing in these and other key priorities in 2022 as we work towards building the metaverse."
See Also: McDonald's Enters The Metaverse: What Investors Need To Know
Meta Platforms, formerly Facebook, is the world's largest online social network.
Meta Platforms has a 52-week high of $384.33 and a 52-week low of $253.50.
