{"id":2496,"date":"2022-02-03T09:39:35","date_gmt":"2022-02-03T14:39:35","guid":{"rendered":"https:\/\/liferep.net\/?p=2496"},"modified":"2022-02-03T09:39:40","modified_gmt":"2022-02-03T14:39:40","slug":"thursday-february-3-2022","status":"publish","type":"post","link":"https:\/\/liferep.net\/?p=2496","title":{"rendered":"Thursday February 3, 2022"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.cnbc.com\/technology\/\">TECH<\/a><\/p>\n\n\n\n<h1 class=\"wp-block-heading\" id=\"facebook-shares-plummet-24-after-reporting-weak-guidance\">Facebook shares plummet 24% after reporting weak guidance<\/h1>\n\n\n\n<p><strong>Here&#8217;s what election rigging and transhumanism get you<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares of Facebook parent Meta plunged Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter.<\/li><li>The company blamed privacy changes to Apple\u2019s iOS and macroeconomic challenges weighing on advertiser budgets.<\/li><li>Other social media stocks were down Thursday following Facebook\u2019s plunge.<\/li><li><\/li><\/ul>\n\n\n\n<p>Shares of Facebook parent&nbsp;<a href=\"https:\/\/www.cnbc.com\/quotes\/FB\" target=\"_blank\" rel=\"noreferrer noopener\">Meta<\/a>&nbsp;were down more than 24% Thursday after the company&nbsp;<a href=\"https:\/\/www.cnbc.com\/2022\/02\/02\/facebook-parent-meta-fb-q4-2021-earnings.html\">forecasted<\/a>&nbsp;weaker-than-expected revenue growth in the next quarter. It also said it\u2019s taking a big hit from Apple\u2019s privacy changes, and showed the first quarterly decline in daily active users on record.<\/p>\n\n\n\n<p>The stock is on pace for its biggest one-day drop ever, ahead of the 19% plummet it saw in July 2018.<\/p>\n\n\n\n<p>The company, which released earnings under its new name for the first time with a new reporting structure, missed earnings estimates for the fourth quarter at $3.67 vs. $3.84 analysts were expecting, according to Refinitiv. But it beat on revenue for the quarter, at $33.67 billion vs. $33.4 billion estimated.<\/p>\n\n\n\n<p>Still, its revenue forecast of $27 billion to $29 billion for the first quarter fell below analyst expectations of $30.15 billion, according to Refinitiv.<\/p>\n\n\n\n<p>The company said Apple\u2019s iPhone privacy changes, which impact its ad-targeting and measuring, would result in a&nbsp;<a href=\"https:\/\/www.cnbc.com\/2022\/02\/02\/facebook-says-apple-ios-privacy-change-will-cost-10-billion-this-year.html\">$10 billion revenue hit this year<\/a>. It also said macroeconomic challenges like inflation and supply chain disruptions, are weighing on advertiser budgets.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/JPM\" target=\"_blank\" rel=\"noreferrer noopener\">JPMorgan<\/a>&nbsp;analysts&nbsp;<a href=\"https:\/\/www.cnbc.com\/2022\/02\/03\/jpmorgan-downgrades-meta-as-it-is-embarking-on-an-expensive-uncertain-multi-year-transition.html\">downgraded the stock<\/a>&nbsp;from overweight to neutral on Thursday and lowered their price target from $385 to $284. The analysts said Meta \u201cis seeing a significant slowdown in advertising growth while embarking on an expensive, uncertain, multi-year transition to the Metaverse.\u201d<\/p>\n\n\n\n<p>Facebook is also leaning more heavily into products that generate less revenue in the short-term but which executives believe have large growth potential, like Reels on Instagram. The company\u2019s core social media business, reported under its Family of Apps, made $32.79 billion in revenue in the quarter with operating income of $15.89 billion.<\/p>\n\n\n\n<p>Meta broke out its Reality Labs segment for the first time, comprising its future-focused business that aims to develop the metaverse. The segment made $877 million in revenue in the fourth quarter with an operating loss of $3.3 billion. The&nbsp;<a href=\"https:\/\/www.cnbc.com\/2022\/02\/02\/meta-reality-labs-reports-10-billion-loss.html\">segment lost $10 billion last year<\/a>, and those losses are growing as it bets on the metaverse.<\/p>\n\n\n\n<p>Other social media stocks were down Thursday following Facebook\u2019s plunge. Shares of&nbsp;<a href=\"https:\/\/www.cnbc.com\/quotes\/SNAP\" target=\"_blank\" rel=\"noreferrer noopener\">Snap<\/a>&nbsp;were down more than 18% Thursday,&nbsp;<a href=\"https:\/\/www.cnbc.com\/quotes\/PINS\" target=\"_blank\" rel=\"noreferrer noopener\">Pinterest<\/a>&nbsp;shares are down 10% and&nbsp;<a href=\"https:\/\/www.cnbc.com\/quotes\/TWTR\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter<\/a>&nbsp;shares are off more than 6%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TECH Facebook shares plummet 24% after reporting weak guidance Here&#8217;s what election rigging and transhumanism get you Shares of Facebook parent Meta plunged Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter.The company blamed privacy changes to Apple\u2019s iOS and macroeconomic challenges weighing on advertiser budgets.Other social media stocks were down Thursday [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2496","post","type-post","status-publish","format-standard","hentry","category-daily-news"],"_links":{"self":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2496"}],"version-history":[{"count":1,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2496\/revisions"}],"predecessor-version":[{"id":2497,"href":"https:\/\/liferep.net\/index.php?rest_route=\/wp\/v2\/posts\/2496\/revisions\/2497"}],"wp:attachment":[{"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/liferep.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}