Lower revenue than Q2 of 2021 and higher expenses. They're on track to have significantly lower net income this year than last year. Au revoir, Facebook.
They are still a very powerful part of interpersonal communication - friends and family. The only way forward is for them to kick out Mark, stop the insanity that is Metaverse, focus on their core and play nice with the platforms and regulators.
Mark is unkickable, he has owns the majority of votes. We’re not even close to a world where he kicks himself
https://www.cnbc.com/2022/07/27/facebook-parent-meta-earning... - Earnings: $2.46 per share vs. $2.59 per share expected, according to Refinitiv - Revenue: $28.82 billion vs. $28.94 billion expected, according to Refinitiv - Daily Active Users (DAUs): 1.97 billion vs 1.96 billion expected, according to StreetAccount - Monthly Active Users (MAUs): 2.93 vs 2.94 billion expected, according to StreetAccount - Average Rev…
Okay at the danger of outing myself as financially incompetent at big company level, the difference seems neglible?
The market largely agrees with you. With the stock remaining flat over the last month (including today).
Great to see the beginning of the end of Meta / Facebook with their first revenue miss. Hopefully their metaverse play is a costly fatal distraction that will ultimately lead them to lose more money while lots of people run away from using their platform. The fact they are ruining their own product [0] to compete with TikTok shows that they have completely run out of ideas. There is no saving Facebook / Meta this tim…
They’re still printing money. It’s hardly the end. People said this about Microsoft for years when they missed mobile, and look at them now.
> look at them now
"A new CEO" - gave them that much needed new life lease
Lower revenue than Q2 of 2021 and higher expenses. They're on track to have significantly lower net income this year than last year. Au revoir, Facebook.
They are still a very powerful part of interpersonal communication - friends and family. The only way forward is for them to kick out Mark, stop the insanity that is Metaverse, focus on their core and play nice with the platforms and regulators.
From a less cynical point of view, they have basically bet the farm on "Metaverse." They can no longer buy out competitors (the FTC will block them), and they need a new monopoly to keep printing money. If they can make even a moderate success out of the metaverse project, they can get out of the hole. If they can make a massive success of the project, they will easily be the new Apple. However, I'm not sure that a recession is the time for a mega-cap company to start spending a lot on a new uncertain project.
They are still a very powerful part of interpersonal communication - friends and family. The only way forward is for them to kick out Mark, stop the insanity that is Metaverse, focus on their core and play nice with the platforms and regulators.
Mark is unkickable, he has owns the majority of votes. We’re not even close to a world where he kicks himself
He may end up kicking himself in a different way. ;)
In any case, it will be interesting to see how the Metaverse thing will eventually perish.
They are still a very powerful part of interpersonal communication - friends and family. The only way forward is for them to kick out Mark, stop the insanity that is Metaverse, focus on their core and play nice with the platforms and regulators.
Mark is unkickable, he has owns the majority of votes. We’re not even close to a world where he kicks himself
My guess is that he will resign in shame if the "Metaverse" project doesn't pan out for them, and get replaced by an MBA.
https://www.cnbc.com/2022/07/27/facebook-parent-meta-earning... - Earnings: $2.46 per share vs. $2.59 per share expected, according to Refinitiv - Revenue: $28.82 billion vs. $28.94 billion expected, according to Refinitiv - Daily Active Users (DAUs): 1.97 billion vs 1.96 billion expected, according to StreetAccount - Monthly Active Users (MAUs): 2.93 vs 2.94 billion expected, according to StreetAccount - Average Rev…
Okay at the danger of outing myself as financially incompetent at big company level, the difference seems neglible?
the game is you're supposed to beat analysts figures at the very least. easier when you have headroom or extra trick up your sleeves. I vaguely remember there was a time when facebook was so hot they were able to cook up a nice round figure for revenue or something prior or for IPO. pure flexing.
Great to see the beginning of the end of Meta / Facebook with their first revenue miss. Hopefully their metaverse play is a costly fatal distraction that will ultimately lead them to lose more money while lots of people run away from using their platform. The fact they are ruining their own product [0] to compete with TikTok shows that they have completely run out of ideas. There is no saving Facebook / Meta this tim…
wow is that right, that's gotta be pretty significant. first revenue miss.. gotta happen some time