Facebook, Inc. (NASDAQ:FB) is reporting third quarter earnings results on Thursday 29th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 1.91 per share.
For the full year, analysts predict revenues of $ 80444.40 million, while looking forward to income of $ 8.08 per share.
Previous Quarter Performance
Facebook, Inc. posted income for the second quarter of $ 1.80 per share, from the revenue of $ 18,687.00 million. The quarterly earnings gained 97.80 percent while revenues boosted 10.67 percent compared with the same quarter last year.
The consensus estimates are income of $ 1.39 per share from $ 17402.50 million in revenue. The bottom line results beat street analysts by $ 0.41 or 29.50 percent, at the same time, top line results outshined analysts by $ 1,284.50 million or 7.38 percent.
Stock Performance
Shares of Facebook, Inc. traded low $ -15.62 or -5.51 percent on Wednesday, reaching $ 267.67 with volume of 23.12 million shares. Facebook, Inc. has traded high as $ 278.40 and has cracked $ 267.26 on the downward trend
According to the previous trading day, closing price of $ 267.67, representing a 106.63 % increase from the 52 week low of $ 137.10 and a 7.02 % decrease over the 52 week high of $ 304.67.
The company has a market capital of $ 762.54 billion and is part of the Technology sector and Internet Content & Information industry.
Recent Analyst recommendations
- On 26th October 2020, maintained by KeyBanc at Overweight rating, with $ 340.00 target price.
- On 12th October 2020, maintained by Deutsche Bank at Buy rating, with $ 325.00 target price.
Conference Call
Facebook, Inc. will be hosting a conference call at 6:00 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website investor.fb.com
Facebook, Inc. provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The companys products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
