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Meta Shares Slide On Bleak Q3 Report; Facebook Daily User Base Inches Up 3% But Earnings Fail To Clear Wall Street Bar

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deadline.com

Meta Platforms shares lost further ground in after-hours trading Wednesday in light of a mixed third-quarter earnings report.

The tech giant formerly known as Facebook delivered slightly better-than-expected revenue of $27.7 billion, but it slipped 4% from the year-ago quarter, reflecting a broad pullback by digital advertisers.

Wall Street analysts had expected $27.4 billion in revenue. Earnings per share of $1.64 fell well short of the consensus forecast for $1.90.

Facebook delivered something of a bright spot, posting a 3% uptick in daily active users, reaching 1.98 billion in September.

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