Meta Platforms GAAP EPS of $1.64 misses by $0.22, revenue of $27.71B beats by $310M
Oct. 26, 2022 4:06 PM ETMeta Platforms, Inc. (META)By: Gaurav Batavia, SA News Editor159 Comments
- Meta Platforms press release (NASDAQ:META): Q3 GAAP EPS of $1.64 misses by $0.22.
- Revenue of $27.71B (-4.5% Y/Y) beats by $310M.
- Shares +8%.
- Family daily active people (DAP) – DAP was 2.93 billion on average for September 2022, an increase of 4% year-over-year.
- Family monthly active people (MAP) – MAP was 3.71 billion as of September 30, 2022, an increase of 4% year-over-year.
- Facebook daily active users (DAUs) – DAUs were 1.98 billion on average for September 2022, an increase of 3% year-over-year.
- Facebook monthly active users (MAUs) – MAUs were 2.96 billion as of September 30, 2022, an increase of 2% year-over-year.
- Ad impressions and price per ad – In the third quarter of 2022, ad impressions delivered across our Family of Apps increased by 17% year-over-year and the average price per ad decreased by 18% year-over-year.
- We expect fourth quarter 2022 total revenue to be in the range of $30-32.5 billion ($32.21B consensus). Our guidance assumes foreign currency will be an approximately 7% headwind to year-over-year total revenue growth in the fourth quarter, based on current exchange rates.
- "We expect 2022 total expenses to be in the range of $85-87 billion, updated from our prior outlook of $85-88 billion. This includes an estimated $900 million in additional charges related to consolidating our office facilities footprint that we expect to record in the fourth quarter of 2022. We anticipate our full-year 2023 total expenses will be in the range of $96-101 billion. This includes an estimated $2 billion in charges related to consolidating our office facilities footprint."