Facebook dips as CFO says vaccine progress means ad growth headwinds

Mar. 02, 2021 3:19 PM ETMeta Platforms, Inc. (META)METABy: Jason Aycock, SA News Editor42 Comments
  • Facebook (FB -1%) Chief Financial Officer David Wehner is warning that the company's ad growth rate may see headwinds as COVID-19 vaccinations keep proceeding.
  • Shares are legging down slightly alongside the conference commentary.
  • He expects as consumers shift spending away from consumer goods and back toward services, like travel, that will likely have an impact on growth "because we tend to under index relative to the overall economy in some of the service sectors."
  • He's forecasting an overall slowdown in e-commerce ad sales, despite continuing difficulty in forecasting our way out of the COVID-19 pandemic.
  • E-commerce was key to the company's growth in the third and fourth quarters, he says.
  • “We do think that online is going to be a bigger component of people’s businesses going forward, so we think we’ll lock in those gains. But I don’t think the shift will be happening as quickly, so that’ll be somewhat of a headwind to our business.”

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