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Facebook reported a nearly half-million drop in users during the last three months of 2021, with only 1.93 billion users logging in daily. Zuckerberg attributed the decline to the TikTok boom.
Shares are up 1.2pc; Philip Lowe speech ahead; ERA rehab of Ranger now $1.6 billion to $2.2 billion; UBS upgrades Computershare; NZ jobless rate drops to record low of 3.2pc. Follow the latest here.
The search-engine giant’s internet advertising and cloud computing businesses benefitted from surges in online shopping.
GOOGL) — reporting earnings this week. As I discussed last week, Netflix reported a disappointing second quarter, with earnings missing analysts’ estimates by 5.8%. As a result, the stock fell nearly 3%. So, let’s use today’s Market360 to review the remaining FAANG stocks’ earnings reports. Facebook (FB) — Announced July 28 Facebook’s second-quarter revenue rose 56% year-over-year (YOY) to $29.08 billion, which beat Wall Street consensus estimates for revenue of $27.89 billion. Earnings climbed 181% YOY to $3.61 per share, up from the $1.80 earned in the prior year. Analysts we...