Facebook is sliding
Justin Sullivan/Getty
After the market close yesterday, the company reported earnings and revenues that topped estimates, although daily active users came in a little lower than forecast.
For the numbers, earnings per share came in at $0.50, versus the consensus estimate for $0.47. Revenues grew 39% year-over-year to $4.04 billion, also better than expected. Daily active users increased 17% to 968 million, missing analysts' forecast for 970 million.
And as Business Insider's Sam Ro highlighted, nearly all the sell-side analysts maintained their bullish outlook on the social network's stock after the earnings results. Some of them raised their price targets.
Facebook's stock has performed well this year, up 19%, and they've gained 25% over the past 12 months.
Here's a look at the stock's slump today:
Google Finance
NOW WATCH: How to tell if your Facebook has been hacked
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Markets rebound sharply on buying in bank stocks firm global trends
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market