If we look back 10 years, Meta’s (or Facebook’s) minimum year-over-year increase in quarterly sales has been 10.7%.
It may seem the world has turned against Facebook, but if you are worried about its financial performance, you should look more closely at the numbers.
Meta also disappointed investors by predicting its first-quarter sales would range from $27 billion to $29 billion, when analysts had been predicting $30.2 billion. The company’s advertising business is in transition, in part, because of changes in privacy settings for users of Apple Inc.’s AAPL, -0.17% iPhones.We’re not even halfway through the first quarter, so let’s focus for a moment on what Meta reported for the fourth quarter. Sales came in at $33.67 billion and were up 19.9% from $28.
Before digging into profit margins, check out the forward price-to-earnings ratios for the four companies as of the close on Feb. 2 — before Meta’s shares took a dive: Fourth-quarter expenses were up 38% from a year earlier. Meta CFO David Wehner said during the earnings call on Feb. 2 that higher expenses were “driven primarily by Reality Labs hardware costs, core infrastructure investments and payments to partners.” Reality Labs is Meta’s virtual reality unit, which includes Oculus VR equipment and is a critical component of CEO Mark Zuckerberg’s long-term “metaverse” strategy.Taxes were up considerably, with an income-tax rate of 19%.
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