5 Stocks Making Big Moves on Financial Results

1. Meta Platforms, Inc. (NASDAQ:FB)

Number of Hedge Fund Holders: 248

Meta Platforms, Inc. (NASDAQ:FB) has mostly managed to surprise investors with its solid quarterly numbers in recent years. However, the social network giant’s latest financial results have left many in shock.

The company missed its fourth-quarter profit expectations with a big margin. In addition, daily active users at its flagship app Facebook declined to 1.929 billion in the fourth quarter, from 1.930 billion in the prior quarter.

As a result, shares of Meta Platforms, Inc. (NASDAQ:FB) plummeted more than 23 percent in the early trading Thursday, February 3, 2022. Moreover, its market value has also dropped down to about $687 billion.

Meta Platforms, Inc. (NASDAQ:FB) reported earnings of $3.67 per share for the fourth quarter, missing expectations of $3.84 per share. However, the quarterly revenue of $33.67 billion came in above analysts’ average estimate of $33.40 billion.

In addition, Meta Platforms, Inc. (NASDAQ:FB) issued a weak sales outlook for the first quarter, citing Apple’s recent privacy changes and intense competition from rivals. It expects revenue in the range of $27 billion – $29 billion for the current quarter, translating to a year-over-year surge between 3 – 11 percent. However, the outlook is below analysts’ average estimate of $30.15 billion.

You can also take a peek at 10 Notable Earnings Reports to Watch and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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