What to Expect From Facebook’s Earnings Today: Slower Growth
Posted in: Uncategorized
Facebook is set to post another quarter of slowing revenue growth after struggling to wring money from advertisers seeking to connect with users of mobile devices.
In the second earnings report since its May initial public offering, the company may say third-quarter sales rose 29% from a year earlier to $1.23 billion, the average of analysts’ estimates compiled by Bloomberg. That’s less than the 32% year-over-year rise it posted in the second quarter and a 45% gain from a year earlier in the first quarter.
Facebook reports earnings today after U.S. markets close. The company has lost more than $40 billion in market value since its May 17 IPO, when it sold shares at $38 apiece, or 107 times trailing 12-month earnings — a price that made it more expensive than 99% of all Standard & Poor’s 500 Index companies at the time.
Post a Comment