Meta stock

Meta shares could face their sharpest daily fall in nine months as investors fret earnings could continue to fall in 2023.

Any further pressure could sink the stock to as low as $92.50, the level of resistance seen in July and August 2015 and marking the 2016-low. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. The first target is the $109 floor that held throughout the second quarter of 2016. Meta is spending billions on the metaverse despite the fact it doesn’t expect to see any return for years to come and that its social media and advertising business is struggling. Meta currently boasts an average target price of $187, but this is likely to decline as brokers adjust their view following the latest update. The Reality Labs division, which homes its metaverse ventures, posted its biggest quarterly operating loss to date in the third quarter of $3.7 billion. We could see some the stock fall toward $101.50, marking the floor seen in the fourth quarter of 2015, before finding some support. More concerning was the fact that EPS plunged by 49% to $1.64 in the quarter and fell far short of the $1.88 pencilled-in by analysts. Meta said it is sharpening its focus on costs by keeping the headcount in some teams flat and downsizing others, with units pursuing its ‘highest priorities’ the only ones set to receive additional human resource. Some steps, like the ongoing rationalization of our office footprint, will lead to incremental costs in the near term. Wall Street had forecast that Facebook’s Daily Active Users (DAUs) would fall 5.5% to 1.86 billion in the third quarter from the 1.97 billion it had in the second. However, that was the second consecutive quarter of lower revenue, which is suffering from a myriad of headwinds, including a 18% year-on-year drop in pricing.

Meta's metaverse-related Reality Labs lost $3.7 billion in the third quarter, taking losses this year to $9 billion, and a digital ads slowdown is hitting ...

That takes its total losses this year to $9 billion, and to almost $20 billion since the start of 2021. Google parent Alphabet's shares tumbled 9.6% Wednesday after its quarterly earnings report, as analysts warned that a decline in its YouTube and Google Network revenue pointed to more pain ahead. Its revenue for the quarter came in at $27.71 billion, compared with a $27.38 billion target, as sales dropped by 4%. That drop significantly outpaces the benchmark Shares in Meta were 20% lower at $103.79 at last check in premarket trading. It also reported billions of dollars of losses for its metaverse-linked Reality Labs unit, an investment that has come under fire from analysts.

77% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and ...

Prices are indicative only. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. I wanted to show you the chart here for Meta because it's a pretty dramatic decline that we have seen here. We use a range of cookies to give you the best possible browsing experience.

Our community continues to grow and I'm pleased with the strong engagement we're seeing driven by progress on our discovery engine and products like Reels,” ...

[Read More We talk to George Simpson, Head of Dance Marketing at Warner Records UK, and Jess Spink, Audience Manager, Warner Records UK, to learn how the team managed to achieve breakout success.October 19, 2022](https://musically.com/2022/10/19/behind-the-single-lf-system/) Meta’s Q3 revenues were down 4% year-on-year, although it still made $27.71bn last quarter. [Meta shares dropped 19% in after-hours trading](https://musically.us2.list-manage.com/track/click?u=d52f6bce2f35240a62f393249&id=562d0b04f3&e=cff7369e7d), knocking more than $65bn off the company’s market cap.