7/9/2023 0 Comments Why did spotify stock dropTo make the point, let’s do some year-over-year comparisons. The profit miss was not merely a few cents per share, however it’s a bigger problem for the firm. So Facebook managed solid top line even if it missed on per-share profit. How did those figures compare to analyst expectations? Per Yahoo Finance averages, analysts had expected the company to post $33.41 billion in revenue, and earnings per share of $3.84 billion. The company also posted earnings per share of $3.67. In the fourth quarter, Facebook generated revenues of $33.67 billion, leading to operating income of $12.59 billion, and net income of $10.29 billion. Meta’s expensive quarter and slack guidance Let’s talk Meta, and then Spotify, and parse out just what is going on. Both sharp declines come in the wake of underwhelming results from PayPal, which also saw its shares fall, and pretty good results from Alphabet.Īlphabet’s strong Q4 performance is starting to look more like an outlier than median-indicator. And Spotify, music streaming impressario and podcasting middleweight, is off more than 15% after the close of trading today. Social networking giant Meta, better known as Facebook, is off more than 20% in after-hours trading. If you own stocks, bad news, you probably just lost money.
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