by SignalFactory · October 25, 2021 | 09:13:35 UTC
Facebook (NASDAQ: FB) is set to report third-quarter earnings results after the market closes on Monday, but news from Snap sent Facebook shares down 5.1% in Friday trading after results for Snapchat’s parent company fell short of expectations. A key concern among investors was the impact of Apple’s changes to targeted advertising on mobile devices: Apple now asks users if they want to opt into the practice, and data from research firm Flurry suggests only 15% of U.S. consumers opt into tracking when offered the choice. Facebook’s report on Monday will show how widespread the impact is to mobile advertising-focused firms.
Wall Street’s consensus estimate for Facebook’s third-quarter calls for sales of $29.57 billion and earnings of $3.19 a share, according to FactSet. Analysts forecast that monthly active users hit 2.92 billion during the quarter, and predict that Facebook had 1.93 billion daily active users.
“We expect Q3 results/outlook probably a bit better than Snap’s, with the company already acknowledging targeting headwinds, and more proactively developing tools to help with measurement and attribution,” Baird analyst Colin Sebastian wrote on Monday.
There’s a lot more news swirling around Facebook, with the company mulling changing its name, The Verge reports. (Barron’s was unable to corroborate The Verge’s report, which cites one anonymous source.) Earlier this month, whistleblower Frances Haugen’s damaging testimony about internal data and documents she submitted to lawmakers, regulators, and journalists seemed to drum up more support in Washington, D.C. for reining in the company. What steps, if any, lawmakers will take is unclear.
In a statement posted on Twitter, Facebook’s policy communications director Andy Stone said the company Investors might wonder if a potential name change for Facebook is linked to a string of controversies in recent years about user data and its app’s potential influence on political polarization. On the flip side, the company is much more than its social network bearing the same name: It also owns Instagram, WhatsApp, and virtual reality headset maker Oculus.
Investors might wonder if a potential name change for Facebook is linked to a string of controversies in recent years about user data and its app’s potential influence on political polarization. On the flip side, the company is much more than its social network bearing the same name: It also owns Instagram, WhatsApp, and virtual reality headset maker Oculus.
Facebook Short (Sell) Enter At: 321.44 T.P_1: 312.54 T.P_2: 297.90 T.P_3: 279.51 S.L: 340.41
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